agenda · 2021. 7. 12. · agenda regular meeting – july 15, 2021 . 12:00 noon – board room ....

AGENDA Regular Meeting – July 15, 2021

12:00 noon – Board Room

Call to Order 12:00

[Chair-Elect Tommy Stoughton]

Ascertain Quorum [Minnie Anderson]

Acceptance of the Agenda

[Chair-Elect Tommy Stoughton]

Safety Brief [Kevin Keyzer]

Recognition of Chamber Leadership Institute Graduates: [Tony Cannon]

2020 Troy Heath and Jarrett McGalliard 2021 Ron Cullipher and JoEllen Gay

Recognition of TradesFormer Pre-Apprentices

[Richie Shreves : Ken Wade] 2020 Seth Garris 2021 Isaiah Edwards and Malachi Wolf

1. Election of Officers and Appointment of First Alternate Commissioner to the North Carolina Eastern Municipal Power Agency Board of Commissioners

[Tony Cannon] 2. Approval of Minutes [Chair] Regular Meeting: June 10, 2021 3. Review of Monthly Financial Statement – June 30, 2021 (Preliminary) [Jeff McCauley] 4. Consideration of Budget Amendment for Electric Capital Project (ECP 10168) Point of

Delivery #3 to Simpson Substation Transmission Loop [Ken Wade]

Agenda – July 15, 2021 Information Items 5. Update of Annual Statement of Conflict-of-Interest Policy, Disclosure and

Ethics Briefing [Phil Dixon]

6. Update of Activities by General Counsel [Phil Dixon] 7. Annual Statement of Compliance with Investment Policy [Jeff McCauley] 8. General Manager’s Report [Tony Cannon] 9. Board Chair’s Remarks/Report

[Chair]

10. Board Members’ Remarks [Board]

Notice of Upcoming Meetings/Functions:

[Chair] GUC Regular Meeting, Thursday, August 19, 2021, 12:00 noon

Closed Sessions:

N.C.G.S. 143-318.11(a)(1) To prevent the disclosure of information that is privileged or confidential pursuant to the law of this State or of the United States, or not considered a public record within the meaning of Chapter 132 of the General Statutes.

N.C.G.S. 143-318.11(a)(3) To consult with an attorney employed or retained by the public body in order to preserve the attorney-client privilege between the attorney and the public body, which privilege is hereby acknowledged. The public body may consider and give instructions to an attorney concerning the handling or settlement of a claim, judicial action, mediation, arbitration, or administrative procedure. N.C.G.S. 143-318.11(a)(4) To discuss matters relating to the location or expansion of industries or other businesses in the area served by the public body, including agreement on a tentative list of economic development incentives that may be offered by the public body in negotiations, or to discuss matters relating to military installation closure or realignment.

Adjournment 1:00

[Chair]

Item: Election of Officers and Appointment of First Alternate Commissioner to the North Carolina Eastern Municipal Power Agency Board of Commissioners

Contact: Tony Cannon

Explanation: Election of Officers Elections need to be held for the offices of Chair, Chair-Elect and Secretary. Below is a listing of the current Commissioners and the date their term expires. Tommy Stoughton June 30, 2024 (current Chair-Elect) Minnie Anderson June 30, 2022 (current Secretary) Kelly L. Darden, Jr. June 30, 2023 Peter Geiger June 30, 2022* Lindsey Griffin June 30, 2022* Kristin Braswell June 30, 2023* Ann E. Wall (City Manager) n/a Vacancy

* Serving first 3-year term

Traditionally, the Board appoints 2 staff members to serve as Executive Secretary and Assistant Executive Secretary. Amy Wade currently serves as Executive Secretary and Keith Jones as Assistant Executive Secretary. Appointment of First Alternate Commissioner for the North Carolina Eastern Municipal Power Agency (NCEMPA) Currently, Mr. Cannon serves as a Commissioner for NCEMPA, former Chair Parker Overton served as First Alternate Commissioner and Mr. Chris Padgett as the Second Alternate Commissioner. A replacement for the First Alternate Commissioner for the NCEMPA Board is recommended.

Agenda Item # 1 Meeting Date: July 15, 2021

Strategic Plan Elements:

Strategic Themes: • Exceptional Customer Service • Safety, Reliability & Value • Shaping Our Future

Objectives: • Exceeding customer expectations • Recruiting and retaining an exceptional, motivated, diverse and

agile workforce • Developing and enhancing strategic partnerships • Embracing change to ensure organizational alignment and

efficiency Core Values:

• Exceed Customers’ Expectations • Act with Integrity • Appreciate Diversity • Support the Community

Previous Board

Actions: N/A

Fiscal Note: N/A

Recommended Action(s):

Elect Chair, Chair-Elect and Secretary; Reappoint Executive Secretary and Assistant Executive Secretary Appointment of the First Alternate Commissioner to the NCEMPA Board of Commissioners

Item: Approval of Minutes

Contact: Amy Wade

Explanation: Regular Minutes: June 10, 2021


Strategic Themes: • Exceptional Customer Service • Shaping Our Future

Objectives: • Exceeding customer expectations • Embracing change to ensure organizational alignment and


• Exceed customers’ expectations • Support the community • Deliver reliable services

Previous Board

Actions: N/A

Fiscal Note: N/A


Approval of minutes as presented or amended


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GREENVILLE UTILITIES COMMISSION

GREENVILLE, NORTH CAROLINA

Thursday, June 10, 2021

The Board of Commissioners of the Greenville Utilities Commission met at the Greenville Utilities Operations Center in regular session and virtually via Zoom at 12:00 noon with the following members and others present, and Chair Overton presiding. Commission Board Members Present: Parker Overton, Chair Lindsey Griffin Tommy Stoughton, Chair-Elect Kelly L. Darden, Jr. Minnie J. Anderson, Secretary Kristin S. Braswell Peter Geiger Ann E. Wall

Commission Staff Present: Tony Cannon, General Manager/CEO Freddie Martin Jeff McCauley Robby Bright (via Zoom) Chris Padgett Kevin Keyzer (via Zoom) Phil Dixon Kathy Howard (via Zoom) Amy Wade Jonathan Britt (via Zoom) Anthony Miller Amanda Wall (via Zoom) Scott Mullis (via Zoom) Kelly Smith (via Zoom) John Worrell (via Zoom) Tony Godwin (via Zoom) Randy Emory (via Zoom) Keith Jones (via Zoom) Andy Anderson (via Zoom) David Springer (via Zoom) Ken Wade (via Zoom) Colleen Sicley (via Zoom)

Others Present: Rick Smiley, City Council Liaison and City of Greenville Interns Chris Kelly, Lisa Khare, and Carina DeRoche via Zoom. Chair Overton called the meeting to order. Ms. Anderson ascertained that a quorum was present. ACCEPTANCE OF THE AGENDA A motion was made by Ms. Wall, seconded by Ms. Anderson, to accept the agenda as presented. The motion carried unanimously. SAFETY BRIEF Mr. Tony Cannon, General Manager/CEO, called upon Kevin Keyzer, Risk and Facilities Manager, to introduce GUC’s new Safety Culture Specialist, Kelly Smith. Ms. Smith explained the plan of action should there be an emergency at today’s meeting. Recognition of Service as Commissioner Chair-Elect Stoughton thanked Board Chair Parker Overton for his six years of service as a Commissioner and for his role serving as Chair. APPROVAL OF MINUTES (Agenda Item 1) A motion was made by Mr. Griffin, seconded by Mr. Geiger, to approve the May 20, 2021 Regular Meeting minutes as presented. The motion carried unanimously.

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REVIEW OF MONTHLY FINANCIAL STATEMENT – MAY 31, 2021 (Agenda Item 2) May 31, 2021 Financial Statement: Key financial metrics for the combined funds for the period ending May 31, 2021 Preliminary:

Operating Cash: $87,462,576 Days of Cash on Hand: 155 Less Current Liabilities ($21,103,704)

Fund Balance: $66,358,872

Fund Balance Available for Appropriation: 24.5%

Days of Cash on Hand After Liabilities:

118

Average Investment Yield: .56

Fund Equity/Deficit Before Transfers Current Month Year to Date Actual Budget Last Year Actual Budget Last Year Electric ($134,051) ($901,087) $401,289 $5,803,644 ($5,994,718) $784,212 Water $602,096 $408,736 $483,662 $4,966,769 $4,078,863 $6,168,170 Sewer $705,367 $161,503 $295,813 $4,031,899 $1,287,490 $4,128,773 Gas ($352,897) ($37,019) ($17,100) $3,569,724 $99,873 $3,093,876 Combined $820,515 ($367,867) $1,163,664 $18,372,036 ($528,492) $14,175,031

Fund Equity/Deficit After Transfers Current Month Year to Date Actual Budget Last Year Actual Budget Last Year Electric ($134,051) ($701,086) $151,289 $1,199,491 ($3,794,695) $34,217 Water $181,263 ($12,097) $54,495 $1,044,236 ($550,300) $1,447,333 Sewer $205,367 ($17,664) $120,813 $1,098,563 ($683,347) $1,653,494 Gas ($352,897) ($107,352) ($37,933) $1,219,724 ($673,790) $2,864,445 Combined ($100,318) ($838,199) $288,664 $4,562,014 ($5,702,132) $5,999,489

Jeff McCauley, Chief Financial Officer, provided a presentation on the Financial Statement for May 31, 2021. The weather impact for the month of May 2021 indicated that the May heating degree days were less than last year. Cooling Degree Days were much higher. The May rainfall was 2.39 inches which was less than last year. The portfolio earned .56% for the month of May. Overall year-to-date results through the end of May remain stable. The Electric Rate Stabilization Reserves are approximately $24.5 million, and the Gas Rate Stabilization Reserves are $2.2 million. The Operating Reserves are 155 Days Cash on Hand, and Renewals and Replacements Reserves are approximately $2.6 million. The Capital Project Funds Reserved for Existing and Future Capital Projects are approximately $40.3 million. After discussion, a motion was made by Mr. Geiger, seconded by Ms. Wall, to accept the Financial Statement for May 31, 2021. The motion carried unanimously. CONSIDERATION OF ADOPTION OF FY 2021-22 BUDGET (Agenda Item 3) Mr. Tony Cannon, General Manager/CEO, stated that there has been one edit to the FY 2021-22 budget since presented to the Board in May. A new transmission service monthly rate has been added to the Electric Rate Schedule (EG-6). The budget message, ordinance, and other supplemental documentation for the proposed budget were provided. Highlights of the FY 2021-22 operating budget are listed below:

• Expenditures budgeted for FY 2021-22 have decreased by 1.8%, or $5.0M, when compared to the FY 2020-21 budget. Key points are:

o $2.3M increase in operations

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o $2.4M increase in purchased power o $1.3M decrease in capital outlay o $1.4M decrease in purchased gas o $1.1M decrease in debt service o $6.6M decrease in transfers to capital projects o $650K increase in transfers to rate stabilization

• No rate adjustment for the Electric Fund • No rate adjustment for the Water Fund • No rate adjustment for the Sewer Fund • No rate adjustment for the Gas Fund • Funding for a 2.0% employee merit/market adjustment • Continuation of a self-insured health insurance plan which includes a high deductible

Health Savings Account option • Continuation of self-insured dental insurance plan • Funding to hire replacements prior to the retirement of key personnel to facilitate

succession planning, leverage the knowledge and experience of long-term employees for training on critical issues and ensure smooth transitions

• One new permanent position for succession planning purposes and one new part-time intern position

• Continuation of investment in the Greenville ENC Alliance to promote economic development in our region

• Transfer to Other Post-Employment Benefits (OPEB) of $500K • Funding for the increase in the Local Government Employees Retirement System

(LGERS) required employer contribution from 10.15% to 11.35% - $418K • Transfer of $150K to City’s housing energy conservation program • Investment of $12.7M for capital outlay to maintain system reliability and comply with

regulatory requirements • Annual turnover or transfer of $6.6M to the City of Greenville in accordance with the

Charter issued by the North Carolina General Assembly

Highlights of the FY 2021-22 capital budget are listed below:

GUC continues to make investments in capital projects to maintain reliability, meet ongoing regulatory requirements, and remain strategically positioned to facilitate growth. To that end, in FY 2021-22, GUC will be establishing capital projects totaling $7.7M.

Project Type Project Description Project Amount IT Asset Management Software $3,100,000

Water Elm Street Water Main Relocations $375,000 Sewer Elm Street Sewer Pipeline Relocations $325,000 Sewer Sewer System Extensions Phase I $3,244,000 Sewer Sewer System Improvements for Industry and Commercial $656,000

Total $7,700,000

RESOLUTION RECOMMENDING TO THE CITY COUNCIL ADOPTION OF A RESOLUTION PROVIDING FOR THE

REIMBURSEMENT TO THE GREENVILLE UTILITIES COMMISSION, OF THE CITY OF GREENVILLE, NORTH CAROLINA, A BODY POLITIC

DULY CHARTERED BY THE STATE OF NORTH CAROLINA, FROM THE PROCEEDS OF ONE OR MORE FINANCING(S) FOR THE EXPENDITURE OF FUNDS FOR CERTAIN IMPROVEMENTS TO THE COMBINED ENTERPRISE

SYSTEM

WHEREAS, in accordance with Chapter 861 of the 1991 Session Laws of North Carolina,

the Greenville Utilities Commission (the “Commission”) has been created for the proper management of the public utilities of the City of Greenville, North Carolina (the “City”), comprising an electric system, a natural gas system, a sanitary sewer system and a water system within and without the corporate limits of the City, (collectively the “Combined Enterprise System”) with responsibility for the entire supervision and control of the management, operation, maintenance, improvement and extension of the Combined Enterprise System;

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WHEREAS, Section 1.150-2 of the Treasury Regulations prescribes specific procedures which will be applicable to certain bonds, notes or other indebtedness (“Debt”) issued by or on behalf of the Commission and the City including, without limitation, a requirement that the City declare official intent to reimburse certain expenditures with proceeds of Debt to be incurred prior to, or within sixty (60) days of, payment of the expenditures to be reimbursed;

WHEREAS, the Commission has identified certain improvements (the “Additional Improvements”) to the Combined Enterprise System that have been and must be funded from available funds pending reimbursement from the proceeds of Debt to be issued for such purposes;

WHEREAS, the Additional Improvements consist of asset management software, water main relocations, sewer pipeline relocations, sewer system extensions, and sewer system improvements; now, therefore, BE IT RESOLVED BY THE GREENVILLE UTILITIES COMMISSION as follows; 1. The City is hereby requested to give favorable consideration to and pass the proposed resolution, which resolution (the "Reimbursement Resolution") effectively would provide for the reimbursement to the Commission from the proceeds of one or more Debt financing(s) (estimated to be $7,700,000) for certain expenditures for the Additional Improvements made not more than 60 days prior to the adoption of the Reimbursement Resolution, the Commission having determined that such adoption will be in the best interests of the Combined Enterprise System. 2. This resolution shall take effect immediately upon its passage, and a certified copy thereof shall be provided to the City Clerk for presentation to the City Council at its next regularly scheduled meeting. Adopted this the 10th day of June, 2021.

_____________________________ /s/ Parker Overton, Chair ATTEST: _____________________________ /s/ Minnie Anderson Secretary APPROVED AS TO FORM: /s/ Phillip R. Dixon General Counsel

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RESOLUTION NO. 21-__ RESOLUTION DECLARING THE INTENTION OF THE

CITY COUNCIL OF THE CITY OF GREENVILLE TO REIMBURSE THE GREENVILLE UTILITIES COMMISSION, OF THE CITY OF GREENVILLE, NORTH

CAROLINA, A BODY POLITIC DULY CHARTERED BY THE STATE OF NORTH CAROLINA, FROM THE PROCEEDS OF ONE OR MORE FINANCING(S) FOR

CERTAIN EXPENDITURES MADE AND TO BE MADE IN CONNECTION WITH THE ACQUISITION AND CONSTRUCTION OF CERTAIN IMPROVEMENTS

WHEREAS, in accordance with Chapter 861 of the 1991 Session Laws of North Carolina, the Greenville Utilities Commission (the “Commission”) has been created for the proper management of the public utilities of the City of Greenville, North Carolina (the “City”), comprising an electric system, a natural gas system, a sanitary sewer system and a water system within and without the corporate limits of the City, (collectively the “Combined Enterprise System”) with responsibility for the entire supervision and control of the management, operation, maintenance, improvement and extension of the Combined Enterprise System; and

WHEREAS, Section 1.150-2 of the Treasury Regulations (the “Regulations”) prescribes specific procedures which will be applicable to certain bonds, notes or other indebtedness (“Debt”) issued by or on behalf of the Commission and the City including, without limitation, a requirement that the City declare official intent to reimburse certain expenditures with proceeds of Debt to be incurred prior to, or within sixty (60) days of, payment of the expenditures to be reimbursed;

WHEREAS, the Commission has determined to pay certain expenditures (the “Expenditures”) incurred no more than 60 days prior to the date hereof and thereafter relating to the acquisition and construction of certain improvements (collectively, the “Additional Improvements”) more fully described below;

WHEREAS, the Additional Improvements consist of asset management software, water main relocations, sewer pipeline relocations, sewer system extensions, and sewer system improvements; and

WHEREAS, the City Council of the City has determined that those moneys previously advanced by the Commission no more than 60 days prior to the date hereof to pay such Expenditures are available only on a temporary period and that it is necessary to reimburse the Commission for the Expenditures from the proceeds of one or more issues of Debt;

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL as follows:

Section 1. The City hereby declares concurrence with the Commission’s intent to reimburse the Commission from the proceeds of the Debt for the Expenditures made with respect to the Additional Improvements no more than 60 days prior to the date hereof and thereafter.

Section 2. Each Expenditure was or will be either (a) of a type chargeable to capital account under general federal income tax principles (determined as of the date of the Expenditures), (b) the cost of issuance with respect to the Debt, (c) a non-recurring item that is not customarily payable from current revenues of the Combined Enterprise System, or (d) a grant to a party that is not related to or an agent of the Commission or City so long as such grant does not impose any obligation or condition (directly or indirectly) to repay any amount to or for the benefit of the Commission or City.

Section 3. The principal amount of the Debt estimated to be issued to reimburse the Commission for Expenditures for the Improvements is estimated to be not more than $7,700,000.

Section 4. The Commission and the City will make a reimbursement allocation, which is a written allocation by the Commission and the City that evidences the Commission’s use of proceeds of the Debt to reimburse an Expenditure no later than 18 months after the later of the date on which such Expenditure is paid or the Project is placed in service or abandoned, but in no event more than three years after the date on which the Expenditure is paid. The City recognizes that exceptions are available for certain "preliminary expenditures," costs of issuance, certain de minimis amounts, (expenditures by "small issuers" based on the year of issuance and not the year of expenditure), and expenditures for construction projects of at least 5 years.

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Section 5. This declaration of official intent is made pursuant to Section 1.150-2 of the Treasury Regulations.

Section 6. The resolution shall take effect immediately upon its passage.

Adopted this the 17th day of June, 2021.

____________________________________ /s/ P. J. Connelly, Mayor

ATTEST:

_____________________ /s/ Valerie Shiuwegar City Clerk

After consideration of the foregoing resolution, Council member _________________ moved for the passage thereof, which motion was duly seconded by Council member ______________________, and the foregoing resolution was passed by the following vote:

Ayes: __________________________________________________________________

_____________________________________________________________________________.

Noes: __________________________________________________________________.

* * * * * *

I, Valerie Shiuwegar, Clerk of the City of Greenville, North Carolina DO HEREBY CERTIFY that the foregoing accurately reflects the proceedings as recorded in the minutes of the City Council of said City at a meeting held on 17th day of June, 2021 and contains the verbatim text of Resolution No. __-21 which was duly adopted by said City Council at said meeting.

WITNESS my hand and the official seal of said City, this 17th day of June, 2021.

___________________________________

City Clerk

[SEAL]




SYSTEM


the Greenville Utilities Commission (the “Commission”) has been created for the proper management of the public utilities of the City of Greenville, North Carolina (the “City”), comprising an electric system, a natural gas system, a sanitary sewer system and a water system within and without the corporate limits of the City, (collectively the “Combined Enterprise

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System”) with responsibility for the entire supervision and control of the management, operation, maintenance, improvement and extension of the Combined Enterprise System;



WHEREAS, the Additional Improvements consist of light and heavy vehicles (including certain bucket, line, sewer, dump and service trucks, forklift and backhoe) and other related equipment; now, therefore, BE IT RESOLVED BY THE GREENVILLE UTILITIES COMMISSION as follows; 1. The City is hereby requested to give favorable consideration to and pass the proposed resolution, which resolution (the "Reimbursement Resolution") effectively would provide for the reimbursement to the Commission from the proceeds of one or more Debt financing(s) (estimated to be $1,774,500) for certain expenditures for the Additional Improvements made not more than 60 days prior to the adoption of the Reimbursement Resolution, the Commission having determined that such adoption will be in the best interests of the Combined Enterprise System. 2. This resolution shall take effect immediately upon its passage, and a certified copy thereof shall be provided to the City Clerk for presentation to the City Council at its next regularly scheduled meeting. Adopted this the 10th day of June, 2021.

_____________________________ /s/ Parker Overton, Chair ATTEST: _____________________________ /s/ Minnie Anderson Secretary APPROVED AS TO FORM: /s/ Phillip R. Dixon General Counsel

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RESOLUTION NO. 21-__ RESOLUTION DECLARING THE INTENTION OF THE







WHEREAS, the Additional Improvements consist of light and heavy vehicles (including certain bucket, line, sewer, dump and service trucks, forklift and backhoe) and other related equipment; and




Section 2. Each Expenditure was or will be either (a) of a type chargeable to capital account under general federal income tax principles (determined as of the date of the Expenditures), (b) the cost of issuance with respect to the Debt, (c) a non-recurring item that is not customarily payable from current revenues of the Combined Enterprise System, or (d) a grant to a party that is not related to or an agent of the Commission or City so long as such grant does not impose any obligation or condition (directly or indirectly) to repay any amount to or for the benefit of the Commission or City.

Section 3. The principal amount of the Debt estimated to be issued to reimburse the Commission for Expenditures for the Improvements is estimated to be not more than $1,774,500.


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Adopted this the 17th day of June, 2021.

____________________________________ /s/ P. J. Connelly, Mayor

ATTEST:

_____________________ /s/ Valerie Shiuwegar City Clerk


Ayes: __________________________________________________________________

_____________________________________________________________________________.

Noes: __________________________________________________________________.

* * * * * *

I, Valerie Shiuwegar, Clerk of the City of Greenville, North Carolina DO HEREBY CERTIFY that the foregoing accurately reflects the proceedings as recorded in the minutes of the City Council of said City at a meeting held on 17th day of June, 2021 and contains the verbatim text of Resolution No. __-21 which was duly adopted by said City Council at said meeting.

WITNESS my hand and the official seal of said City, this 17th day of June, 2021.

___________________________________

City Clerk

[SEAL]

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ORDINANCE NO. 21-_________ CITY OF GREENVILLE, NORTH CAROLINA

2021-22 GREENVILLE UTILITIES COMMISSION BUDGET ORDINANCE

THE CITY COUNCIL OF THE CITY OF GREENVILLE, NORTH CAROLINA, DOES ORDAIN: Section l. Estimated Net Revenues and Fund Balances. It is estimated that the following non-tax revenues and fund balances will be available during the fiscal year beginning July 1, 2021 and ending June 30, 2022 to meet the subsequent expenditures, according to the following schedules: Revenues Budget A. Electric Fund Rates & Charges $178,868,362 Fees & Charges 1,578,002 Miscellaneous 1,492,616 Interest on Investments 450,000 Transfer from Rate Stabilization 2,500,000 Total Electric Fund Revenue $184,888,980

B. Water Fund Rates & Charges $23,175,014 Fees & Charges 451,993 Miscellaneous 185,348 Interest on Investments 80,000 Total Water Fund Revenue $23,892,355

C. Sewer Fund Rates & Charges $23,389,861 Fees & Charges 422,785 Miscellaneous 130,963 Interest on Investments 80,000 Total Sewer Fund Revenue $24,023,609

D. Gas Fund Rates & Charges $32,285,537 Fees & Charges 164,160 Miscellaneous 134,637 Interest on Investments 140,000 Total Gas Fund Revenue $32,724,334

Total Revenues $265,529,278

Section II. Expenditures. The following amounts are hereby estimated for the Greenville Utilities Commission to be expended for managing, operating, improving, maintaining, and extending electric,

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water, sewer and gas utilities during the fiscal year beginning July 1, 2021 and ending on June 30, 2022, according to the following schedules:

Expenditures Budget

Electric Fund $184,888,980 Water Fund 23,892,355 Sewer Fund 24,023,609 Gas Fund 32,724,334 Total Expenditures $265,529,278

Section III. Capital Improvements. The following Capital Improvements anticipated revenues and project appropriations as listed below in this section are hereby adopted in the fiscal year beginning July 1, 2021.

(a) It is estimated that the following non-tax revenues and long term debt proceeds will be available to fund capital project expenditures that will begin in the fiscal year beginning July 1, 2021.

Capital Projects Revenues Budget

Electric Fund - Long Term Debt Proceeds $2,480,000 Water Fund - Long Term Debt Proceeds 530,000 Sewer Fund - Long Term Debt Proceeds 3,155,000 Sewer Fund - Capital Projects Fund Balance 1,225,000 Gas Fund - Long Term Debt Proceeds 310,000 Total Revenues $7,700,000

(b) The following amounts are hereby appropriated for capital projects that will begin during the fiscal year beginning July 1, 2021.

Capital Projects Expenditures Budget

ICP10189 Asset Management Software $3,100,000 WCP10036 Elm Street Water Main Relocations 375,000 SCP10243 Elm Street Sewer Pipeline Relocations 325,000 SCP10244 Sewer System Extensions Phase 1 3,244,000

SCP10242 Sewer System Improvements for Industry and Commercial 656,000

Total Capital Projects Expenditures $7,700,000

Section IV: Amendments.

(a) Pursuant to General Statutes 159-15, this budget may be amended by submission of proposed changes to the City Council.

(b) Notwithstanding Subsection (a) above, the General Manager/CEO of Greenville Utilities Commission is authorized to transfer funds from one appropriation to another in an amount not to exceed $100,000. Any such transfers shall be reported to the Greenville Utilities Commission and the City Council at their next regular meeting and shall be entered in the minutes.

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(c) In case of emergency which threatens the lives, health, or safety of the public, the General Manager/CEO may authorize expenditures in an amount necessary to meet the emergency so long as such amount does not exceed the amount in contingency accounts and the expenditure is reported to the Greenville Utilities Commission as soon as possible, and appropriate budget amendments are submitted to the City Council, if necessary, at its next regular meeting.

(d) Capital Projects listed in section III may be amended on an individual project basis.

Section V: Appropriation. The capital project revenue and expenditure authorizations shall extend from year to year until each project is completed.

Section VI: Distribution. Copies of this ordinance shall be furnished to the General Manager/CEO and the Chief Financial Officer of the Greenville Utilities Commission, and the Director of Financial Services of the City of Greenville to be kept on file by them for their direction in the disbursement of funds. Adopted this the 17th day of June, 2021.

/s/ P. J. Connelly, Mayor Attest:

/s/ Valerie Shiuwegar, City Clerk

After discussion, a motion was made by Mr. Geiger, seconded by Mr. Griffin, to adopt the proposed FY 2021-22 budget and include it in the City’s overall budget as well as adopt the City Ordinance and associated reimbursement resolutions, and recommend similar action by City Council. The motion carried unanimously. CONSIDERATION OF AUTHORIZATION TO PROCEED WITH CONSTRUCTION OF THE FLEET MAINTENANCE BUILDING AND ASSOCIATED IMPROVEMENTS (Agenda Item 4) Mr. Chris Padgett, Assistant General Manager/Chief Administrative Officer, announced that the Fleet Maintenance Building is one of the five primary structures depicted on the New Operations Center Master Plan. It was originally included in the New Operations Center Project but was removed from the scope of that project in 2018 due to the overall project cost. At that time, it was recognized that constructing the Fleet Maintenance Building as soon as possible was highly desirable because of the negative impacts on operations and inefficiencies of servicing fleet vehicles remotely and the continued threat of flooding at the existing Mumford Road facility. This project is being constructed using the Design-Build Bridging construction method authorized by General Statute 143-128.1B. In accordance with the provisions of this statute, GUC advertised a Request for Proposals for a Design-Builder for the Fleet Maintenance Building in July 2020. T.A. Loving was selected as the project’s Design-Builder the following month and a contract was approved for design and pre-construction activities. Requests for bids were advertised for 22 bid packages resulting in a Guaranteed Maximum Price (GMP) for the Design-Builder’s scope of work totaling $6,650,523 (see Low Bid Summary Table on the next page). In addition to the scope of work to be completed by the Design-Builder, GUC will self-manage $1,099,477 of the project budget. Items to be covered within this budget include environmental buydown; furniture fixtures and equipment; testing, site lighting, technology, owners’ contingency, and equipment specific to this type of facility (tire and parts storage racks, vehicle lifts, air compressor, etc.). Mr. Padgett noted that this approach of self-managing certain aspects of the project was used successfully during the larger new Operations Center Project.

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The Fleet Maintenance Building, as designed and bid, is a 23,053 square foot prefabricated metal building with several feet of masonry at the bottom of the structure. The design, materials and coloration will be like that of the Stores Warehouse and Systems Support Building already located on the campus. The building will be 38.5-feet tall at its peak elevation and will include eleven service bays, one repair/fabrication shop, and areas for fluid storage and parts and tool storage. It also includes offices, locker rooms, restrooms, a lobby, a break room, and a meeting room. The building will be surrounded by a secure parking lot for fleet vehicles and a small parking lot for visitors will also be provided. This project will also include a new employee parking lot (70 spaces) and approximately two-acres of additional laydown yard at the south end of the Systems Support Building. After discussion, a motion was made by Mr. Griffin, seconded by Mr. Geiger, to authorize the General Manager/CEO to execute a contract amendment with T.A. Loving Company, the Design-Builder for the Fleet Maintenance Building, to include a Guaranteed Maximum Price for an amount not to exceed $6,650,523. The motion carried unanimously. RECOMMENDATION OF THE FINANCE/AUDIT COMMITTEE TO ADOPT A RESOULTION AUTHORIZING NEGOTIATION AND EXECUTION OF NATURAL GAS SUPPLY AGREEMENT WITH GULF STATES GAS DISTRICT (Agenda Item 5) Commissioner Stoughton reported that the Finance/Audit Committee met on Tuesday, June 1, 2021 with representatives from the GUC Board of Commissioners including Commissioners Peter Geiger, Minnie Anderson, Lindsey Griffin, and himself. The Committee met to review staff’s recommendation to adopt a Resolution authorizing negotiation and execution of a Natural Gas Supply Agreement by the Board of Commissioners. He asked Director of Gas Systems Anthony Miller to provide an update. Mr. Miller stated that in an effort to further diversify Greenville Utilities Commission’s (GUC’s) natural gas supply portfolio and reduce costs, staff has evaluated the option of GUC participating in a natural gas pre-payment (prepay) transaction with Gulf States Gas District (GSGD) and BP Energy Company (BPEC). Next, Natural Gas Supply Officer Freddie Martin stated that a prepay is a transaction where a municipal utility can issue tax-exempt bonds to prepay for delivery of gas on a long-term basis to achieve an ongoing discount to the prevailing market price. Under the proposed agreement, GSGD will be the issuer of the bonds. In executing such an agreement, GUC would be a purchaser of gas from GSGD at a discount to prevailing market prices and would not have any liability associated with the bonds issued by GSGD. GUC is currently in year 15 of a 15-year prepay with Patriots Energy Group (PEG), year 4 of a 30-year prepay with Black Belt Energy (BBE) and year 3 of a 30- year prepay with Public

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Energy Authority of Kentucky (PEAK). The PEG prepay has saved GUC and its customers $1,741,600 since February 2007 and the agreement ends on January 31, 2022. Delivery under the BBE prepay began on November 1, 2018 with projected savings of $8,071,106 over the term of the agreement. Delivery under the PEAK prepay began on July 1, 2019 with projected savings of $4,634,449 over the term of the agreement. Also, a 30-year agreement is pending with Minnesota Municipal Gas Agency with projected savings of $5,811,600 over the term of the agreement. GUC has an opportunity to participate in a new 30-year natural gas pre-payment deal with GSGD. Closing of this agreement is targeted for June 30, 2021. To participate in the prepay, GUC will need to approval to execute a gas supply contract with Gulf States Gas District prior to June 30, 2021.

BUYER’S AUTHORIZING RESOLUTION

A RESOLUTION OF GREENVILLE UTILITIES COMMISSION (“GUC”) (i) AUTHORIZING THE EXECUTION OF A GAS SUPPLY CONTRACT (“CONTRACT”) WITH THE GULF STATES GAS DISTRICT (“GSGD”) FOR THE PURCHASE OF NATURAL GAS FROM GSGD; (ii) ACKNOWLEDGING THAT GSGD WILL ISSUE ITS GAS SUPPLY REVENUE BONDS TO FUND THE PURCHASE OF A SUPPLY OF NATURAL GAS FROM BP ENERGY COMPANY (“BPEC”), WHICH GAS WILL BE USED TO MAKE DELIVERIES UNDER THE CONTRACT; AND (iii) FOR OTHER PURPOSES

WHEREAS, the GUC is a body politic organized and existing under the laws of the State of North Carolina; and

WHEREAS, the acquisition of secure, reliable and economic supplies of natural gas is necessary for the prudent and businesslike operation of GUC, the continued economic development of its community and the promotion of the public health, safety and welfare; and

WHEREAS, GSGD, which was organized and established pursuant to the provisions of the Alabama Gas Districts Act, Sec. 11-50-390 et seq. of the Alabama Code (1975), as amended, has offered to sell to Greenville Utilities Commission, pursuant to the Contract, a supply of natural gas in the quantities on the dates set forth in the Contract, on the condition that GSGD issues its Gas Supply Revenue Bonds, 2021 Series A (the “Bonds”), the proceeds of which will be used to acquire a supply of natural gas (the “Gas Supply”) pursuant to a Prepaid Agreement with BPEC (the “Prepaid Agreement”); and

WHEREAS, GUC is a Municipal Utility, as such term is defined in the Gas Supply Contract, and desires to enter into the Contract with GSGD.

NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of GUC as follows:

1. The Board of Commissioners of GUC hereby approves the execution and delivery of the Gas Supply Contract, in substantially the form previously submitted to GUC, pursuant to which GUC will agree to purchase specified quantities of natural gas from GSGD, such deliveries to be made on the dates, at the volumes and for the prices set forth in such Gas Supply Contract.

2. The General Manager/Chief Executive Officer of GUC, or his designee, is hereby authorized to execute any such other closing documents or certificates which may be required or contemplated in connection with the execution and delivery of the Contract or carrying out the intent and purpose of this resolution.

Adopted this the 10th Day of June, 2021.

_______________________ /s/ Parker Overton, Chair ATTEST: _____________________ /s/ Minnie Anderson, Secretary APPROVED AS TO FORM: ______________________ /s/ Phillip R. Dixon, General Counsel

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BUYER’S AUTHORIZING RESOLUTION

A RESOLUTION OF GREENVILLE UTILITIES COMMISSION (“GUC”) (i) AUTHORIZING THE EXECUTION OF A GAS SUPPLY CONTRACT (“CONTRACT”) WITH THE MINNESOTA MUNICIPAL GAS AGENCY (“MMGA”) FOR THE PURCHASE OF NATURAL GAS FROM MMGA; (ii) ACKNOWLEDGING THAT MMGA WILL ISSUE ITS GAS SUPPLY REVENUE BONDS TO FUND THE PURCHASE OF A SUPPLY OF NATURAL GAS FROM ROYAL BANK OF CANADA (“RBC”), WHICH GAS WILL BE USED TO MAKE DELIVERIES UNDER THE CONTRACT; AND (iii) FOR OTHER PURPOSES

WHEREAS, the GUC is a body politic organized and existing under the laws of the State of North Carolina; and

WHEREAS, the acquisition of secure, reliable and economic supplies of natural gas is necessary for the prudent and businesslike operation of GUC, the continued economic development of its community and the promotion of the public health, safety and welfare; and

WHEREAS, MMGA, which was organized and established under Minnesota Statutes, Chapter 453A, as amended, has offered to sell to Greenville Utilities Commission, pursuant to the Contract, a supply of natural gas in the quantities on the dates set forth in the Contract, on the condition that MMGA issues its Gas Supply Revenue Bonds, 2021 Series, (the “Bonds”), the proceeds of which will be used to acquire a supply of natural gas (the “Gas Supply”) pursuant to a Prepaid Agreement with RBC (the “Prepaid Agreement”); and

WHEREAS, GUC is a Municipal Utility, as such term is defined in the Gas Supply Contract, and desires to enter into the Contract with MMGA.

NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of GUC as follows:

1. The Board of Commissioners of GUC hereby approves the execution and delivery of the Gas Supply Contract, in substantially the form previously submitted to GUC, pursuant to which GUC will agree to purchase specified quantities of natural gas from MMGA, such deliveries to be made on the dates, at the volumes and for the prices set forth in such Gas Supply Contract.

2. The General Manager/Chief Executive Officer of GUC, or his designee, is hereby authorized to execute any such other closing documents or certificates which may be required or contemplated in connection with the execution and delivery of the Contract or carrying out the intent and purpose of this resolution.

Adopted this the 10th Day of June, 2021.

_______________________ /s/ Parker Overton, Chair ATTEST: _____________________ /s/ Minnie Anderson, Secretary APPROVED AS TO FORM: ______________________ /s/ Phillip R. Dixon, General Counsel

After discussion, a motion was made by Ms. Wall, seconded by Ms. Braswell, to adopt Resolution and authorize the General Manager/CEO to negotiate and execute a Natural Gas Supply Agreement with either Gulf States Gas District or Minnesota Municipal Gas Agency for a volume up to, but not to exceed, 3,000 dekatherms per day over 30 years. The motion carried unanimously. GENERAL MANAGER’S/CEO REPORT (Agenda Item 6) 1. Informational Reading Bids, Statistical Data Report, Sewer Spill Tracking Report, Load Management Report, and PGA Report were provided.

16

The following Bids awarded by the General Manager/CEO during the past month were reported for information:

GREENVILLE UTILITIES COMMISSION TABULATION OF BIDS RECEIVED

ITEM I (10) 25 KVA CSP TRANSFORMER, STK # 205020

APRIL 14, 2021 @ 3:00 PM DELIVERY

TIME (WKS) UNIT

PRICE OWNERSHIP COST/UNIT

TOTAL VENDORS Wesco Distribution, Inc. 19 $978.00 $2,136.60* $9,780.00 National Transformer Sales 16 1,012.00 2,152.00 10,120.00 Richardson Associates 20 1,215.00 2,303.70 12,150.00

* Indicates recommended award based on lowest total ownership cost.

ITEM II (5) 50 KVA CONV. 120/240, STK # 204930 APRIL 14, 2021 @ 3:00 PM

DELIVERY TIME (WKS)

UNIT PRICE

OWNERSHIP COST/UNIT

TOTAL VENDORS Wesco Distribution, Inc. 19 $1,160.00 $2,978.30* $5,800.00 National Transformer Sales 16 1,216.00 3,061.00 6,080.00 Richard Associates 20 1,450.00 3,244.30 7,250.00


ITEM III (25) 25 KVA PADMOUNT TRANSFORMER, STK # 207860 APRIL 14, 2021 @ 3:00 PM

DELIVERY TIME (WKS)

UNIT PRICE

OWNERSHIP COST/UNIT

TOTAL VENDORS Richardson Associates 20 $1,375.00 $2,449.90* $34,375.00 Wesco Distribution, Inc. 26 1,465.00 2,508.70 36,625.00 National Transformer Sales 32 1,622.00 2,686.10 40,550.00

*Indicates recommended award based on lowest total ownership cost.

ITEM IV (55) 50 KVA PADMOUNT TRANSFORMER, STK # 205140 APRIL 14, 2021 @ 3:00 PM

DELIVERY TIME (WKS)

UNIT PRICE

OWNERSHIP COST/UNIT

TOTAL VENDORS Wesco Distribution, Inc. 26 $1,770.00 $3,540.30* $97,350.00 Richardson Associates 20 1,928.00 3,662.30 106,040.00 National Transformer Sales 32 1,951.00 3,834.10 107,305.00


ITEM V (35) 25 KVA PADMOUNT TRANSFORMER, STK # 205040 APRIL 14, 2021 @ 3:00 PM

DELIVERY TIME (WKS)

UNIT PRICE

OWNERSHIP COST/UNIT

TOTAL VENDORS Wesco Distribution Inc. 26 $1,985.00 $4,552.40* $69,475.00 Richardson Associates 20 2,320.00 4,723.90 81,200.00 National Transformer Sales 32 2,338.00 4,888.00 81,830.00

*Indicates recommended award based on lowest total ownership cost. ITEM VI (20) 100 KVA PADMOUNT TRANSFORMER, STK # 205130

APRIL 14, 2021 @ 3:00 PM DELIVERY TIME

(WKS) UNIT


TOTAL VENDORS Wesco Distribution, Inc. 26 $2,405.00 $5,697.20* $48,100.00 Richardson Associates 20 2,953.00 5,835.10 59,060.00 National Transformer Sales 32 2,826.00 5,950.20 56,520.00


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ITEM VII (10) 75 KVA PADMOUNT TRANSFORMER 120/208, STK # 205160 APRIL 14, 2021 @ 3:00 PM

DELIVERY TIME (WKS)

UNIT PRICE

OWNERSHIP COST/UNIT

TOTAL VENDORS National Transformer Sales 20 $5,757.00 $8,849.40* $57,570.00 WEG 24 5,775.00 8,876.40 57,750.00 Wesco Distribution, Inc. 12 5,940.00 9,142.50 59,400.00 Richardson Associates 20 6,753.00 9,776.70 67,530.00

* Indicates recommended award based on lowest total unit cost.

ITEM VIII (10) 150 KVA PADMOUNT TRANSFORMER 120/208, STK # 205220


(WKS) UNIT


TOTAL VENDORS National Transformer Sales 20 $6,819.00 $12,196.20* $68,190.00 WEG 24 6,969.00 12,400.80 69,690.00 Wesco Distribution, Inc. 12 8,765.00 12,754.10 87,650.00 Richardson Associates 20 8,702.00 13,890.80 87,020.00


ITEM IX (2) 300 KVA PADMOUNT TRANSFORMER 120/208, STK # 205150


(WKS) UNIT


TOTAL VENDORS WEG 24 $9,198.00 $18,436.80 $18,396.00* Wesco Distribution, Inc. 12 11,600.00 18,232.70 23,200.00 National Transformer Sales 20 9,442.00 18,556.00 18,884.00 Richardson Associates 20 11,604.00 20,443.20 23,208.00

*Indicates recommended award based on lowest unit cost from 3 % evaluation.

(1) ONE DIESEL SINGLE AXLE DUMP TRUCK

APRIL 28, 2021 @ 3:00 PM

VENDOR NAME DELIVERY TIME $ TOTAL White’s International Trucks

48 Weeks

$107,400.49*

* Indicates recommended award based on the lowest responsible, responsive bid.

RADIOGRAPHIC X-RAY SERVICES APRIL 29, 2021 at 3:00 PM (EDST)

VENDOR TOTAL XCEL NDT, LLC $57,600.00* World Wide Nondestructive Testing 79,200.00

*Indicates recommended award based on the lowest responsible, responsive bid.

Load Management Report The Duke Energy Progress (DEP) monthly peak occurred on May 26, 2021 for the hour ending at 4:00 p.m. GUC’s load management system was in full operation during this period. As a result, the estimated avoided demand costs amount to $1,729,203. 2. Key Performance Indicators (KPIs) The Corporate KPI report was provided.

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3. Other

• Mr. Cannon announced that the annual chlorine conversion will take place June 21- August 2, 2021.

• Mr. Cannon stated that the recent meeting and tour with Senator Thom Tillis at the new Operations Center went well.

• Mr. Cannon announced that the 2021A Series Bond closed on May 21, 2021. BOARD CHAIR’S REMARKS/REPORT (Agenda Item 7) Chair Overton shared the approved minutes from the Finance/Audit Committee May 10, 2021 for information. He reminded the Commissioners of the GUC Regular Board meeting scheduled for Thursday, July 15, 2021 at 12:00 noon. There being no further business to come before the Board of Commissioners, upon motion by Ms. Wall, seconded by Mr. Stoughton, the Board of Commissioners unanimously agreed to adjourn the meeting at 1:00 p.m.

Respectfully submitted, _____________________________

Amy Carson Wade, Executive Secretary APPROVED: ______________________________ Minnie Johnson Anderson, Secretary

Item: Review of Monthly Financial Statement for June 30, 2021 Preliminary

Contact: Jeff McCauley

Explanation: June 30, 2021 Preliminary Financial Statement The Financial Statement for June 2021 Preliminary is attached. Key financial metrics for the combined funds for the period ending June 2021 Preliminary:

Operating Cash $90,374,832 Days of Cash on Hand 158 Less Current

Liabilities

($26,885,669) Less Appropriated Fund Balance for

FY 2021 ($616,664)

Fund Balance $62,872,499 Days of Cash on Hand

After Liabilities 110 Fund Balance Available for Appropriation: 23.2% Average Investment Yield: 0.50% Fund Equity/Deficit Before Transfers

Current Month Year to Date

Actual Budget Last Year Actual Budget Last Year

Electric ($1,079,299) $4,491 ($139,433) $4,724,345 $3,128,154 $644,779

Water ($2,363,089) ($5,745) ($508,542) $2,603,680 $3,472,037 $5,659,628

Sewer ($3,302,986) $10,369 ($955,926) $728,913 $1,121,707 $3,172,847

Gas ($726,637) ($252,479) ($461,889) $2,843,087 $1,907,268 $2,631,987

Combined ($7,472,011) ($243,364) ($2,065,790) $10,900,025 $9,629,166 $12,109,241

Fund Equity/Deficit After Transfers

Current Month Year to Date

Actual Budget Last Year Actual Budget Last Year

Electric ($1,079,299) $4,054,468 $110,567 $120,192 $228,154 $144,784

Water ($863,089) $623,418 ($1,637,705) $181,147 $72,037 ($190,372)

Sewer ($802,986) $881,206 ($2,155,926) $295,577 $171,707 ($502,432)

Gas ($726,637) $727,184 ($2,482,726) $493,087 $107,268 $381,719

Combined ($3,472,011) $6,286,276 ($6,165,790) $1,090,003 $579,166 ($166,301)



Strategic Themes: • Exceptional Customer Service • Safety, Reliability & Value • Shaping Our Future

Objectives: • Providing competitive rates, while maintaining the financial

stability of the utility • Exceeding customer expectations • Safely providing reliable and innovative utility solutions • Developing and enhancing strategic partnerships

Core Values: • Exceed Customers’ Expectations • Act with Integrity • Value Employees • Deliver Reliable Services • Prioritize Safety • Support the Community

Previous Board

Actions: N/A

Fiscal Note: N/A


Accept June 30, 2021 Preliminary Financial Statement


Financial Report

June 30, 2021 Preliminary

GREENVILLE UTILITIES COMMISSION June 30, 2021 Preliminary

I. Key Financial Highlights

A. Days Cash on Hand June 2021 June 2020 June 2019 Electric Fund 129 128 119 Water Fund 229 172 171 Sewer Fund 251 208 210 Gas Fund 240 231 190 Combined Funds 158 149 138

B. Fund Balance Available for Appropriation Electric Water Sewer Gas Combined Funds Operating cash $54,443,639 $9,096,062 $9,816,321 $17,018,810 $90,374,832 Current liabilities ($17,754,817) ($3,656,938) ($3,298,291) ($2,175,623) ($26,885,669) Fund balance appropriated for FY 2021 $0 $0 ($616,664) $0 ($616,664) Fund balance available for appropriation $36,688,822 $5,439,124 $5,901,366 $14,843,187 $62,872,499 Percentage of total budgeted expenditures 19.7% 22.4% 22.9% 43.4% 23.2% Days unappropriated fund balance on hand 87 137 151 209 110

C. Portfolio Management Fiscal Year 2020‐21 Fiscal Year 2019‐20 Fiscal Year 2018‐19 Interest Earnings Yield Interest Earnings Yield Interest Earnings Yield July $116,200 0.90% $275,957 2.33% $163,613 1.53% August $115,742 0.92% $375,514 2.28% $189,935 1.71% September $108,748 0.84% $353,378 2.16% $181,289 1.80% October $100,286 0.78% $337,847 2.03% $224,945 1.89% November $99,514 0.74% $315,650 1.98% $258,799 2.06% December $95,090 0.66% $301,717 1.99% $239,093 2.08% January $84,873 0.69% $300,187 2.00% $261,751 2.25% February $76,229 0.63% $281,827 1.84% $240,735 2.29% March $87,254 0.60% $208,759 1.83% $277,163 2.29% April $74,644 0.57% $284,318 1.56% $282,399 2.24% May $74,891 0.56% $146,612 1.12% $280,032 2.34% June $73,971 0.50% $144,160 1.02% $276,275 2.28%

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II. Fund Performance

Electric June 2021 June 2020 June 2019 Number of Accounts 71,359 70,073 68,894

YTD volumes billed to customers are 27,381,781 kWh more than last year but 17,547,736 kWh less than the revised budget. YTD revenues from retail rates and charges are $2,991,722 more than last year but $2,514,765 less than the revised budget. YTD total revenues, not including bond proceeds, are $5,770,506 more than last year but $1,313,015 less than the revised budget. YTD total expenditures are $1,721,017 more than last year but $2,916,927 less than the revised budget. YTD revenues exceed YTD expenditures by $4,724,345 compared to excess revenues of $644,779 for last year. YTD net fund equity after transfers is $120,192.

Water June 2021 June 2020 June 2019 Number of Accounts 37,801 37,195 36,673

YTD volumes billed to customers are 43,397 kgallons more than last year and 124,459 kgallons more than the revised budget. YTD revenues from retail rates and charges are $261,004 more than last year and $304,153 more than the revised budget. YTD total revenues, not including bond proceeds, are $70,419 more than last year and $558,258 more than the revised budget. YTD total expenditures, not including retirement of Bethel debt and repayment of capacity fees, are $1,263,753 more than last year but $501,177 less than the

revised budget. YTD revenues exceed YTD expenditures by $2,603,680 compared to excess revenues of $5,659,628 for last year. YTD net fund equity after transfers is $181,147.

Sewer June 2021 June 2020 June 2019 Number of Accounts 31,366 30,828 30,363

YTD revenues from retail rates and charges are $100,839 more than last year and $389,969 more than the revised budget. YTD total revenues, not including bond proceeds, are $454,678 more than last year and $535,891 more than the revised budget. YTD total expenditures, not including retirement of Bethel debt and repayment of capacity fees, are $1,327,283 more than last year but $983,600 less than the

revised budget. YTD revenues exceed YTD expenditures by $728,913 compared to excess revenues of $3,172,847 for last year. YTD net fund equity after transfers is $295,577.

2


Gas June 2021 June 2020 June 2019 Number of Accounts 24,162 23,784 23,493

YTD total volumes billed to customers are 1,280,564 ccfs more than last year but 96,365 ccfs less than the revised budget. YTD revenues from retail rates and charges are $1,630,818 more than last year but $257,405 less than the revised budget. YTD total revenues, not including bond proceeds, are $1,324,528 more than last year but $157,440 less than the revised budget. YTD total expenditures are $1,120,662 more than last year but $1,095,116 less than the revised budget. YTD revenues exceed YTD expenditures by $2,843,087 compared to excess revenues of $2,631,987 for last year. YTD net fund equity after transfers is $493,087.

III. Volumes Billed June 2021 YTD FY 2020‐21 June 2020 YTD FY 2019‐20 YTD % Change June 2019 YTD FY 2018‐19

YTD % Change

Electric (kwh) 154,073,725 1,743,173,538 142,670,616 1,715,791,757 1.6% 166,703,140 1,781,582,588 ‐2.2% Water (kgal) 334,140 4,205,516 306,677 4,162,119 1.0% 352,478 4,142,875 1.5% Sewer (kgal) 246,865 2,971,598 234,752 2,892,662 2.7% 253,410 2,976,096 0.2% Gas (ccf) Firm 688,934 17,966,651 653,647 15,775,017 13.9% 631,424 17,093,779 5.1% Interruptible 1,413,551 15,769,310 1,371,397 16,680,380 ‐5.5% 1,551,275 17,394,338 ‐9.3% Total 2,102,485 33,735,961 2,025,044 32,455,397 3.9% 2,182,699 34,488,117 ‐2.2%

IV. Cooling Degree Day Information Fiscal Year 2020‐21 Fiscal Year 2019‐20 % Change 6 Year Average 30 Year Average

July 552.0 531.5 3.9% 513.6 490.6 August 472.5 451.0 4.8% 464.8 435.1 September 248.5 363.5 ‐31.6% 328.3 265.7 October 95.5 111.5 ‐14.3% 105.8 70.1 November 18.5 0.0 0.0% 11.9 10.3 December 0.0 2.0 ‐100.0% 6.7 4.2 January 0.0 51.0 ‐100.0% 25.7 13.9 February 2.0 9.0 ‐77.8% 10.4 3.4 March 31.5 51.0 ‐38.2% 26.7 14.5 April 60.5 36.5 65.8% 61.5 66.3 May 178.5 131.0 36.3% 220.4 175.9 June 352.5 340.0 3.7% 371.3 370.4 YTD 2,012.0 2,037.0 ‐1.2% 2,123.7 1,908.5

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V. Heating Degree Day Information Fiscal Year 2020‐21 Fiscal Year 2019‐20 % Change 6 Year Average 30 Year Average

July 0.0 0.0 0.0% 0.0 0.0 August 0.0 0.0 0.0% 0.0 0.0 September 19.5 0.0 0.0% 3.4 7.3 October 51.0 49.5 3.0% 89.3 135.0 November 220.0 464.5 ‐52.6% 354.3 382.6 December 624.0 490.5 27.2% 530.6 604.8 January 702.0 508.0 38.2% 664.9 688.6 February 587.0 425.0 38.1% 437.4 545.5 March 296.0 245.0 20.8% 364.5 398.5 April 148.5 188.5 ‐21.2% 145.2 154.5 May 61.0 80.0 ‐23.8% 39.8 43.6 June 0.0 2.5 ‐100.0% 0.7 1.5 YTD 2,709.0 2,453.5 10.4% 2,630.1 2,961.9

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Actual Budget Last Year Actual Revised Budget Last YearElectric

Revenues 15,738,242 16,284,260 15,567,206 178,295,503 179,616,239 172,494,920 Expenses (16,817,541) (16,279,769) (15,706,639) (173,571,158) (176,488,085) (171,850,141) Equity/Deficit from Operations (1,079,299) 4,491 (139,433) 4,724,345 3,128,154 644,779

Transfers and Fund Balance ‐ 4,049,977 250,000 (4,604,153) (2,900,000) (499,995) Total Equity/Deficit (1,079,299) 4,054,468 110,567 120,192 228,154 144,784

WaterRevenues 2,021,775 1,979,985 1,953,575 26,043,234 25,515,397 23,678,662 Expenses (4,384,864) (1,985,730) (2,462,117) (23,439,554) (22,043,360) (18,019,034) Equity/Deficit from Operations (2,363,089) (5,745) (508,542) 2,603,680 3,472,037 5,659,628

Transfers and Fund Balance 1,500,000 629,163 (1,129,163) (2,422,533) (3,400,000) (5,850,000) Total Equity/Deficit (863,089) 623,418 (1,637,705) 181,147 72,037 (190,372)

SewerRevenues 2,050,027 2,180,657 2,011,270 26,427,936 25,963,343 24,242,535 Expenses (5,353,013) (2,170,288) (2,967,196) (25,699,023) (24,841,636) (21,069,688) Equity/Deficit from Operations (3,302,986) 10,369 (955,926) 728,913 1,121,707 3,172,847

Transfers and Fund Balance 2,500,000 870,837 (1,200,000) (433,336) (950,000) (3,675,279) Total Equity/Deficit (802,986) 881,206 (2,155,926) 295,577 171,707 (502,432)

GasRevenues 1,762,347 2,119,624 1,810,590 33,456,489 33,615,786 32,124,727 Expenses (2,488,984) (2,372,103) (2,272,479) (30,613,402) (31,708,518) (29,492,740) Equity/Deficit from Operations (726,637) (252,479) (461,889) 2,843,087 1,907,268 2,631,987

Transfers and Fund Balance ‐ 979,663 (2,020,837) (2,350,000) (1,800,000) (2,250,268) Total Equity/Deficit (726,637) 727,184 (2,482,726) 493,087 107,268 381,719

Combined Total Revenues 21,572,391 22,564,526 21,342,641 264,223,162 264,710,765 252,540,844

Total Expenses (29,044,402) (22,807,890) (23,408,431) (253,323,137) (255,081,599) (240,431,603) Total Equity/Deficit from Operations (7,472,011) (243,364) (2,065,790) 10,900,025 9,629,166 12,109,241

Total Transfers and Fund Balance 4,000,000 6,529,640 (4,100,000) (9,810,022) (9,050,000) (12,275,542)

Total Equity/Deficit (3,472,011) 6,286,276 (6,165,790) 1,090,003 579,166 (166,301)

Commissioners Executive SummaryJune 30, 2021Preliminary

Current Month Year To Date

5

YTD Actual Encumbrances Total Total Budget Available Budget

Electric Fund $178,175,311 $1,487,883 $179,663,194 $183,466,239 $3,803,045Water Fund $25,862,087 $110,300 25,972,387 $26,565,397 593,010 Sewer Fund $26,132,359 ($2,041) 26,130,318 $27,013,343 883,025 Gas Fund $32,963,402 $115,125 33,078,527 $34,665,786 1,587,259

Total $263,133,159 $1,711,267 $264,844,426 $271,710,765 $6,866,339

Budgetary SummaryJune 30, 2021Preliminary

6

Weather

2,012.0

2,037.0

2,339.5

2,123.7

1,908.5

‐ 500.0 1,000.0 1,500.0 2,000.0 2,500.0

20‐21

19‐20

18‐19

6 Yr Average

30 Yr Average

Fiscal YTD Cooling Degree Days

69.28

53.85

61.22

62.19

52.71

‐ 20.00 40.00 60.00 80.00

20‐21

19‐20

18‐19

6 Yr Average

30 Yr Average

Fiscal YTD Rainfall

2,709.0

2,453.5

2,742.0

2,630.1

2,961.9

‐ 1,000.0 2,000.0 3,000.0 4,000.0

20‐21

19‐20

18‐19

6 Yr Average

30 Yr Average

Fiscal YTD Heating Degree Days

7

Customer Demand

100,000150,000200,000250,000300,000350,000400,000450,000

Water kgal billed2019 2020 2021

100,000

150,000

200,000

250,000

300,000

350,000

400,000

Sewer kgal billed2019 2020 2021

0

100,000

200,000

300,000

400,000

500,000

600,000

Gas Mcf billed2019 2020 2021

80,000

100,000

120,000

140,000

160,000

180,000

Electric MWh billed2019 2020 2021

8

Financial Trends

$7.8 $5.1 ($0.2)

$10.9 $4.0

$3.3

$3.3

$4.8 $5.0 $2.7

$2.5

$3.7 $2.6

$3.0

$2.3

$4.8

($5.0)

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

2019 2020 2021 Budget 2021 YTD

Operating Income ($M)Electric Water Sewer Gas

$49.9 $53.9 $47.4 $54.4

$6.5 $7.0 $5.7

$9.1 $7.5 $7.9 $7.0

$9.8 $14.9 $16.2

$14.3

$17.0

$0.0

$20.0

$40.0

$60.0

$80.0

$100.0

2019 2020 2021 Budget 2021 YTD

Operating Cash Balances ($M)Electric Water Sewer Gas

$78.8 $85.0 $74.4 $90.3$19.4 $14.1 $7.9 $24.2

$16.4 $34.3 $29.5 $22.0

$4.6

$10.1 $17.3 $21.9

$3.8

$8.2 $12.5

$5.6

$3.7

$6.4 $9.0

$4.2

$0.0

$20.0

$40.0

$60.0

$80.0

2019 2020 2021 Budget 2021 YTD

Capital Spending ($M)Electric Water Sewer Gas

$28.5 $59.0 $68.3 $53.7

9

Variance Variance Total % of Total % of Change

June June Favorable YTD YTD Favorable Original Original Revised Revised June YTD Prior YTD toLine # Actual Budget (Unfavorable) Actual Budget (Unfavorable) Budget Budget Budget Budget Actual Actual Current YTD

Revenue:Rates & Charges 1 $21,078,937 $21,834,878 ($755,941) $250,892,651 $251,514,172 ($621,521) $251,514,172 99.8% 252,767,527$ 99.3% $20,811,364 $245,468,334 $5,424,317Fees & Charges 2 217,364 161,512 55,852 2,462,159 1,938,375 523,784 1,938,375 127.0% 2,052,527 120.0% 154,254 2,340,012 122,147 U. G. & Temp. Ser. Chgs. 3 13,375 35,429 (22,054) 483,860 425,038 58,822 425,038 113.8% 457,521 105.8% 95,841 541,201 (57,341) Miscellaneous 4 221,184 176,146 45,038 5,415,009 2,114,192 3,300,817 2,114,192 256.1% 4,354,201 124.4% 114,720 2,179,556 3,235,453 Interest Income 5 41,531 62,500 (20,969) 641,791 750,000 (108,209) 750,000 85.6% 640,000 100.3% 80,286 1,604,653 (962,862) FEMA/Insurance Reimbursement 6 ‐ ‐ ‐ 265,505 ‐ 265,505 ‐ n/a 265,505 100.0% 86,176 407,088 (141,583) Bond Proceeds 7 ‐ 294,061 (294,061) 4,062,187 294,061 3,768,126 294,061 1381.4% 4,173,484 97.3% ‐ ‐ 4,062,187

9 $21,572,391 $22,564,526 ($992,135) $264,223,162 $257,035,838 $7,187,324 $257,035,838 102.8% $264,710,765 99.8% $21,342,641 $252,540,844 $11,682,318

Expenditures: Operations 10 $7,481,275 $6,583,620 ($897,655) $68,701,666 $73,471,410 $4,769,744 $73,471,410 93.5% 71,515,583$ 96.1% $7,218,040 $65,538,438 $3,163,228Purchased Power/Gas 11 12,179,740 12,752,805 573,065 139,441,517 149,233,019 9,791,502 149,233,019 93.4% 142,787,535 97.7% 11,744,349 141,309,239 (1,867,722) Capital Outlay 12 3,400,179 1,210,161 (2,190,018) 15,957,482 14,002,610 (1,954,872) 14,002,610 114.0% 15,129,949 105.5% 2,892,341 14,523,030 1,434,452 Debt Service 13 1,350,995 1,729,346 378,351 14,763,512 14,217,192 (546,320) 14,217,192 103.8% 14,876,154 99.2% 992,349 11,906,170 2,857,342 City Turnover 14 461,845 461,845 ‐ 5,542,118 5,542,118 ‐ 5,542,118 100.0% 5,542,118 100.0% 480,824 5,769,888 (227,770) Street Light Reimbursement 15 90,654 70,113 (20,541) 958,023 841,345 (116,678) 841,345 113.9% 1,009,799 94.9% 80,528 884,838 73,185 Transfer to OPEB Trust Fund 16 ‐ ‐ ‐ 500,000 500,000 ‐ 500,000 100.0% 500,000 100.0% ‐ 500,000 ‐ Retirement of Bethel Debt 17 ‐ ‐ ‐ 3,379,105 ‐ (3,379,105) ‐ n/a 3,720,461 ‐ ‐ 3,379,105 Repayment of Capacity Fees 18 4,079,714 ‐ (4,079,714) 4,079,714 ‐ (4,079,714) ‐ n/a ‐ ‐ ‐ 4,079,714

19 $29,044,402 $22,807,890 ($6,236,512) $253,323,137 $257,807,694 $4,484,557 $257,807,694 98.3% $255,081,599 99.3% $23,408,431 $240,431,603 $12,891,534

Equity/Deficit from Operations 20 ($7,472,011) ($243,364) ($7,228,647) $10,900,025 ($771,856) $11,671,881 ($771,856) $9,629,166 ($2,065,790) $12,109,241 ($1,209,216)

Transfers and Fund Balance Transfer from Capital Projects 21 $0 $58,826 ($58,826) $0 $706,000 ($706,000) $706,000 0.0% ‐$ n/a $0 $0 $0Transfer from Rate Stabilization 22 ‐ 479,163 (479,163) ‐ 5,750,000 (5,750,000) 5,750,000 0.0% ‐ n/a ‐ ‐ ‐ Appropriated Fund Balance 23 ‐ 7,000,000 (7,000,000) ‐ 7,000,000 (7,000,000) 7,000,000 0.0% 7,000,000 0.0% ‐ ‐ ‐ Transfer to Rate Stabilization 24 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a (1,800,000) 0.0% (316,836) (545,999) 545,999 Transfer to Capital Projects 25 4,000,000 (1,008,349) 5,008,349 (9,810,022) (12,100,000) 2,289,978 (12,100,000) 81.1% (14,250,000) 68.8% (3,783,164) (11,729,543) 1,919,521 Transfer to Designated Reserves 26 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐

27 $4,000,000 $6,529,640 ($2,529,640) ($9,810,022) $1,356,000 ($11,166,022) $1,356,000 ($9,050,000) ($4,100,000) ($12,275,542) $2,465,520

Total Equity/Deficit 28 ($3,472,011) $6,286,276 ($9,758,287) $1,090,003 $584,144 $505,859 $584,144 $579,166 ($6,165,790) ($166,301) $1,256,304

Current Fiscal Year Prior Fiscal Year

Greenville Utilities CommissionRevenue and Expenses ‐ Combined

June 30, 2021Preliminary

10



Customer Demand:Number of Accounts 1 71,359 70,073 kWh Purchased 2 160,011,961 169,759,148 9,747,187 1,784,928,256 1,846,814,038 61,885,782 1,846,814,038 96.6% 1,809,390,459 98.6% 153,901,253 1,756,805,304 28,122,952 kWh Billed1 3 154,073,725 164,641,627 (10,567,902) 1,743,173,538 1,791,409,617 (48,236,079) 1,791,409,617 97.3% 1,760,721,274 99.0% 142,670,616 1,715,791,757 27,381,781

Revenue:Rates & Charges ‐ Retail 4 $15,426,766 $15,855,186 ($428,420) $171,325,419 $172,488,964 ($1,163,545) $172,488,964 99.3% $173,840,184 98.6% $15,291,386 $168,333,697 $2,991,722Fees & Charges 5 115,830 81,352 34,478 1,311,559 976,268 335,291 976,268 134.3% 1,099,074 119.3% 63,169 1,197,811 113,748 U. G. & Temp. Ser. Chgs. 6 11,575 34,266 (22,691) 467,460 411,038 56,422 411,038 113.7% 443,921 105.3% 94,941 529,201 (61,741) Miscellaneous 7 158,483 136,708 21,775 4,572,338 1,640,595 2,931,743 1,640,595 278.7% 3,620,145 126.3% 26,479 1,154,465 3,417,873 Interest Income 8 25,588 39,163 (13,575) 393,533 470,000 (76,467) 470,000 83.7% 380,000 103.6% 47,402 986,260 (592,727) FEMA/Insurance Reimbursement 9 ‐ ‐ ‐ 195,117 ‐ 195,117 ‐ n/a 195,117 100.0% 43,829 293,486 (98,369) Bond Proceeds 10 ‐ 137,585 (137,585) 30,077 137,585 (107,508) 137,585 21.9% 37,798 79.6% ‐ ‐ 30,077

12 $15,738,242 $16,284,260 ($546,018) $178,295,503 $176,124,450 $2,171,053 $176,124,450 101.2% $179,616,239 99.3% $15,567,206 $172,494,920 $5,800,583

Expenditures: Operations 13 $3,565,951 $2,813,763 ($752,188) $29,776,315 $31,495,702 $1,719,387 $31,495,702 94.5% $31,187,669 95.5% $2,546,644 $26,626,567 $3,149,748Purchased Power 14 11,294,430 11,797,499 503,069 123,938,593 132,210,549 8,271,956 132,210,549 93.7% 126,976,511 97.6% 11,020,308 126,492,335 (2,553,742) Capital Outlay 15 1,160,672 772,166 (388,506) 10,332,768 8,890,926 (1,441,842) 8,890,926 116.2% 8,737,738 118.3% 1,443,866 10,188,931 143,837 Debt Service 16 382,756 503,150 120,394 4,413,490 4,524,186 110,696 4,524,186 97.6% 4,424,399 99.8% 277,380 3,327,470 1,086,020 City Turnover 17 323,078 323,078 ‐ 3,876,969 3,876,969 ‐ 3,876,969 100.0% 3,876,969 100.0% 337,913 4,055,000 (178,031) Street Light Reimbursement 18 90,654 70,113 (20,541) 958,023 841,345 (116,678) 841,345 113.9% 1,009,799 94.9% 80,528 884,838 73,185 Transfer to OPEB Trust Fund 19 ‐ ‐ ‐ 275,000 275,000 ‐ 275,000 100.0% 275,000 100.0% ‐ 275,000 ‐

20 $16,817,541 $16,279,769 ($537,772) $173,571,158 $182,114,677 $8,543,519 $182,114,677 95.3% $176,488,085 98.3% $15,706,639 $171,850,141 $1,721,017

Equity/Deficit from Operations 21 ($1,079,299) $4,491 ($1,083,790) $4,724,345 ($5,990,227) $10,714,572 ($5,990,227) $3,128,154 ($139,433) $644,779 $4,079,566

Transfers and Fund Balance Transfer from Capital Projects 22 $0 $41,663 ($41,663) $0 $500,000 ($500,000) $500,000 0.0% $0 n/a $0 $0 $0Transfer from Rate Stabilization 23 ‐ 479,163 (479,163) ‐ 5,750,000 (5,750,000) 5,750,000 0.0% ‐ n/a ‐ ‐ ‐ Appropriated Fund Balance 24 ‐ 3,850,000 (3,850,000) ‐ 3,850,000 (3,850,000) 3,850,000 0.0% 3,850,000 0.0% ‐ ‐ ‐ Transfer to Rate Stabilization 25 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐ Transfer to Capital Projects 26 ‐ (320,849) 320,849 (4,604,153) (3,850,000) (754,153) (3,850,000) 119.6% (6,750,000) 68.2% 250,000 (499,995) (4,104,158) Transfer to Designated Reserves 27 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐

28 $0 $4,049,977 ($4,049,977) ($4,604,153) $6,250,000 ($10,854,153) $6,250,000 ($2,900,000) $250,000 ($499,995) ($4,104,158)

Total Equity/Deficit 29 ($1,079,299) $4,054,468 ($5,133,767) $120,192 $259,773 ($139,581) $259,773 $228,154 $110,567 $144,784 ($24,592)

Note 1: kWh billed does not include volumes delivered in the current month and billed in the next month.

Greenville Utilities CommissionRevenue and Expenses ‐ Electric Fund

June 30, 2021


Preliminary

11



Customer Demand:Number of Accounts 1 37,801 37,195 Kgallons Pumped 2 402,501 401,801 (700) 5,149,457 4,962,923 (186,534) 4,962,922 103.8% 4,895,595 105.2% 381,141 4,992,837 156,621 Kgallons Billed ‐ Retail 3 317,461 369,850 (52,389) 3,555,554 3,544,787 10,767 3,544,787 100.3% 3,488,662 101.9% 289,024 3,532,718 22,836 Kgallons Billed ‐ Wholesale1 4 16,679 59,308 (42,629) 649,962 592,395 57,567 592,395 109.7% 592,395 109.7% 17,653 629,401 20,561 Kgallons Billed 5 334,140 429,158 (95,018) 4,205,516 4,137,182 68,334 4,137,182 101.7% 4,081,057 103.0% 306,677 4,162,119 43,397

Revenue:Rates & Charges ‐ Retail 6 $1,916,400 $1,863,049 $53,351 $21,447,455 $21,285,174 $162,281 $21,285,174 100.8% $21,143,302 101.4% $1,785,427 $21,186,451 $261,004Rates & Charges ‐ Wholesale1 7 43,255 44,241 (986) 1,478,452 1,298,471 179,981 1,298,471 113.9% 1,298,471 113.9% 44,811 1,378,593 99,859 Fees & Charges 8 44,924 33,937 10,987 453,734 407,409 46,325 407,409 111.4% 400,852 113.2% 41,825 490,057 (36,323) Temporary Service Charges 9 1,800 1,163 637 16,400 14,000 2,400 14,000 117.1% 13,600 120.6% 900 12,000 4,400 Miscellaneous 10 11,044 16,299 (5,255) 270,088 195,566 74,522 195,566 138.1% 251,206 107.5% 57,525 419,210 (149,122) Interest Income 11 4,352 5,837 (1,485) 67,560 70,000 (2,440) 70,000 96.5% 68,000 99.4% 8,459 155,847 (88,287) FEMA/Insurance Reimbursement 12 ‐ ‐ ‐ 15,392 ‐ 15,392 ‐ n/a 15,392 100.0% 14,628 36,504 (21,112) Bond Proceeds 13 ‐ 15,459 (15,459) 2,294,153 15,459 2,278,694 15,459 14840.2% 2,324,574 98.7% ‐ ‐ 2,294,153

15 $2,021,775 $1,979,985 $41,790 $26,043,234 $23,286,079 $2,757,155 $23,286,079 111.8% $25,515,397 102.1% $1,953,575 $23,678,662 $2,364,572

Expenditures: Operations 16 $1,374,706 $1,375,153 $447 $14,425,041 $15,318,599 $893,558 $15,318,599 94.2% $15,127,779 95.4% $1,717,401 $14,697,323 ($272,282)Capital Outlay 17 857,387 97,826 (759,561) 1,563,743 1,136,630 (427,113) 1,136,630 137.6% 1,348,734 115.9% 593,242 1,429,393 134,350 Debt Service 18 231,959 512,751 280,792 3,219,003 2,682,732 (536,271) 2,682,732 120.0% 3,232,451 99.6% 151,474 1,817,318 1,401,685 Transfer to OPEB Trust Fund 19 ‐ ‐ ‐ 75,000 75,000 ‐ 75,000 100.0% 75,000 100.0% ‐ 75,000 ‐ Retirement of Bethel Debt 20 ‐ ‐ ‐ 2,235,955 ‐ (2,235,955) ‐ n/a 2,259,396 99.0% ‐ ‐ 2,235,955 Repayment of Capacity Fees 21 1,920,812 ‐ (1,920,812) 1,920,812 ‐ (1,920,812) ‐ n/a ‐ n/a ‐ ‐ 1,920,812

22 $4,384,864 $1,985,730 ($2,399,134) $23,439,554 $19,212,961 ($4,226,593) $19,212,961 122.0% $22,043,360 106.3% $2,462,117 $18,019,034 $5,420,520

Equity/Deficit from Operations 23 ($2,363,089) ($5,745) ($2,357,344) $2,603,680 $4,073,118 ($1,469,438) $4,073,118 $3,472,037 ($508,542) $5,659,628 ($3,055,948)

Transfers and Fund Balance Transfer from Capital Projects 24 $0 $0 $0 $0 $0 $0 $0 n/a $0 n/a $0 $0 $0Transfer from Rate Stabilization 25 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐ Appropriated Fund Balance 26 ‐ 1,050,000 (1,050,000) ‐ 1,050,000 (1,050,000) 1,050,000 0.0% 1,050,000 0.0% ‐ ‐ ‐ Transfer to Capital Projects 27 1,500,000 (420,837) 1,920,837 (2,422,533) (5,050,000) 2,627,467 (5,050,000) 48.0% (4,450,000) 54.4% (1,129,163) (5,850,000) 3,427,467 Transfer to Designated Reserves 28 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐

29 $1,500,000 $629,163 $870,837 ($2,422,533) ($4,000,000) $1,577,467 ($4,000,000) ($3,400,000) ($1,129,163) ($5,850,000) $3,427,467

Total Equity/Deficit 30 ($863,089) $623,418 ($1,486,507) $181,147 $73,118 $108,029 $73,118 $72,037 ($1,637,705) ($190,372) $371,519

Note 1: Kgallons Billed ‐ Wholesale and Rates and Charges ‐ Wholesale represents sales to the Town of Bethel, the Town of Farmville, Greene County, the Town of Winterville and Stokes Regional Water Corporation.

Greenville Utilities CommissionRevenue and Expenses ‐ Water Fund

June 30, 2021


12



Customer Demand:Number of Accounts 1 31,366 30,828 Kgallons Total Flow 2 427,410 286,623 (140,787) 4,398,450 3,754,753 (643,697) 3,754,754 117.1% 3,682,690 119.4% 343,310 3,641,090 757,360 Kgallons Billed ‐ Retail 3 241,121 241,621 (500) 2,837,829 2,853,350 (15,521) 2,853,350 99.5% 2,796,099 101.5% 228,225 2,819,636 18,192 Kgallons Billed ‐ Wholesale1 4 5,744 9,332 (3,588) 133,770 129,612 4,158 129,612 103.2% 129,612 103.2% 6,527 73,025 60,744 Total Kgallons Billed 5 246,865 250,953 (4,088) 2,971,598 2,982,962 (11,364) 2,982,962 99.6% 2,925,711 101.6% 234,752 2,892,662 78,936

Revenue:Rates & Charges ‐ Retail 6 $1,957,680 $1,935,294 $22,386 $23,060,937 $23,222,636 ($161,699) $23,222,636 99.3% $22,670,968 101.7% $1,897,327 $22,960,098 $100,839Rates & Charges ‐ Wholesale1 7 32,075 52,142 (20,067) 749,018 725,827 23,191 725,827 103.2% 725,827 103.2% 36,554 408,943 340,075 Fees & Charges 8 46,016 34,179 11,837 501,385 410,148 91,237 410,148 122.2% 379,467 132.1% 38,184 459,081 42,304 Miscellaneous 9 10,593 11,362 (769) 278,120 136,520 141,600 136,520 203.7% 271,532 102.4% 16,444 196,998 81,122 Interest Income 10 3,663 6,663 (3,000) 66,225 80,000 (13,775) 80,000 82.8% 72,000 92.0% 8,133 180,071 (113,846) FEMA/Insurance Reimbursement 11 ‐ ‐ ‐ 41,528 ‐ 41,528 ‐ n/a 41,528 100.0% 14,628 37,344 4,184 Bond Proceeds 12 ‐ 141,017 (141,017) 1,730,723 141,017 1,589,706 141,017 1227.3% 1,802,021 96.0% ‐ ‐ 1,730,723

14 $2,050,027 $2,180,657 ($130,630) $26,427,936 $24,716,148 $1,711,788 $24,716,148 106.9% $25,963,343 101.8% $2,011,270 $24,242,535 $2,185,401

Expenditures: Operations 15 $1,505,166 $1,380,019 ($125,147) $14,201,560 $15,427,569 $1,226,009 $15,427,569 92.1% $14,435,615 98.4% $1,768,530 $13,700,977 $500,583Capital Outlay 16 1,089,167 209,180 (879,987) 2,584,194 2,493,784 (90,410) 2,493,784 103.6% 3,248,081 79.6% 738,684 1,774,250 809,944 Debt Service 17 599,778 581,089 (18,689) 5,536,217 5,421,936 (114,281) 5,421,936 102.1% 5,621,875 98.5% 459,982 5,519,461 16,756 Transfer to OPEB Trust Fund 18 ‐ ‐ ‐ 75,000 75,000 ‐ 75,000 100.0% 75,000 100.0% ‐ 75,000 ‐ Retirement of Bethel Debt 19 ‐ ‐ ‐ 1,143,150 ‐ (1,143,150) ‐ n/a 1,461,065 78.2% ‐ ‐ 1,143,150 Repayment of Capacity Fees 20 2,158,902 ‐ (2,158,902) 2,158,902 ‐ (2,158,902) ‐ n/a ‐ n/a ‐ ‐ 2,158,902

21 $5,353,013 $2,170,288 ($3,182,725) $25,699,023 $23,418,289 ($2,280,734) $23,418,289 109.7% $24,841,636 103.5% $2,967,196 $21,069,688 $4,629,335

Equity/Deficit from Operations 22 ($3,302,986) $10,369 ($3,313,355) $728,913 $1,297,859 ($568,946) $1,297,859 $1,121,707 ($955,926) $3,172,847 ($2,443,934)

Transfers and Fund Balance Transfer from Capital Projects 23 $0 $0 $0 $0 $0 $0 $0 n/a $0 n/a $0 $0 $0Transfer from Rate Stabilization 24 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐ Appropriated Fund Balance 25 ‐ 1,050,000 (1,050,000) ‐ 1,050,000 (1,050,000) 1,050,000 0.0% 1,050,000 0.0% ‐ ‐ ‐ Transfer to Capital Projects 26 2,500,000 (179,163) 2,679,163 (433,336) (2,150,000) 1,716,664 (2,150,000) 20.2% (2,000,000) 21.7% (1,200,000) (3,675,279) 3,241,943 Transfer to Designated Reserves 27 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐

28 $2,500,000 $870,837 $1,629,163 ($433,336) ($1,100,000) $666,664 ($1,100,000) ($950,000) ($1,200,000) ($3,675,279) $3,241,943

Total Equity/Deficit 29 ($802,986) $881,206 ($1,684,192) $295,577 $197,859 $97,718 $197,859 $171,707 ($2,155,926) ($502,432) $798,009

Note 1: Kgallons Billed ‐ Wholesale and Rates and Charges ‐ Wholesale represents sales to the Town of Bethel and the Town of Grimesland.

Greenville Utilities CommissionRevenue and Expenses ‐ Sewer Fund

June 30, 2021


13



Customer Demand:Number of Accounts 1 24,162 23,784 CCFs Purchased 2 1,763,774 2,076,748 312,974 35,524,585 35,199,097 (325,488) 35,199,097 100.9% 36,351,484 97.7% 1,805,811 34,141,884 1,382,701 CCFs Delivered to GUC 3 1,819,254 2,016,107 196,853 34,318,994 34,171,283 (147,711) 34,171,283 100.4% 34,293,990 100.1% 1,738,269 32,984,925 1,334,069 CCFs Billed ‐ Firm 4 688,934 599,355 89,579 17,966,651 16,972,600 994,051 16,972,600 105.9% 17,776,956 101.1% 653,647 15,775,017 2,191,634 CCFs Billed ‐ Interruptible 5 1,413,551 1,384,805 28,746 15,769,310 15,787,200 (17,890) 15,787,200 99.9% 16,055,370 98.2% 1,371,397 16,680,380 (911,070) CCFs Billed ‐ Total 6 2,102,485 1,984,160 118,325 33,735,961 32,759,800 976,161 32,759,800 103.0% 33,832,326 99.7% 2,025,044 32,455,397 1,280,564

Revenue:Rates & Charges ‐ Retail 7 $1,702,761 $2,084,966 ($382,205) $32,831,370 $32,493,100 $338,270 $32,493,100 101.0% $33,088,775 99.2% $1,755,859 $31,200,552 $1,630,818Fees & Charges 8 10,594 12,044 (1,450) 195,481 144,550 50,931 144,550 135.2% 173,134 112.9% 11,076 193,063 2,418 Miscellaneous 9 41,064 11,777 29,287 294,463 141,511 152,952 141,511 208.1% 211,318 139.3% 14,272 408,883 (114,420) Interest Income 10 7,928 10,837 (2,909) 114,473 130,000 (15,527) 130,000 88.1% 120,000 95.4% 16,292 282,475 (168,002) FEMA/Insurance Reimbursement 11 ‐ ‐ ‐ 13,468 ‐ 13,468 ‐ n/a 13,468 100.0% 13,091 39,754 (26,286) Bond Proceeds 12 ‐ ‐ ‐ 7,234 ‐ 7,234 ‐ n/a 9,091 79.6% ‐ ‐ 7,234

14 $1,762,347 $2,119,624 ($357,277) $33,456,489 $32,909,161 $547,328 $32,909,161 101.7% $33,615,786 99.5% $1,810,590 $32,124,727 $1,331,762

Expenditures: Operations 15 $1,035,452 $1,014,685 ($20,767) $10,298,750 $11,229,540 $930,790 $11,229,540 91.7% $10,764,520 95.7% $1,185,465 $10,513,571 ($214,821)Purchased Gas 16 885,310 955,306 69,996 15,502,924 17,022,470 1,519,546 17,022,470 91.1% 15,811,024 98.1% 724,041 14,816,904 686,020 Capital Outlay 17 292,953 130,989 (161,964) 1,476,777 1,481,270 4,493 1,481,270 99.7% 1,795,396 82.3% 116,549 1,130,456 346,321 Debt Service 18 136,502 132,356 (4,146) 1,594,802 1,588,338 (6,464) 1,588,338 100.4% 1,597,429 99.8% 103,513 1,241,921 352,881 City Turnover 19 138,767 138,767 ‐ 1,665,149 1,665,149 ‐ 1,665,149 100.0% 1,665,149 100.0% 142,911 1,714,888 (49,739) Transfer to OPEB Trust Fund 20 ‐ ‐ ‐ 75,000 75,000 ‐ 75,000 100.0% 75,000 100.0% ‐ 75,000 ‐

21 $2,488,984 $2,372,103 ($116,881) $30,613,402 $33,061,767 $2,448,365 $33,061,767 92.6% $31,708,518 96.5% $2,272,479 $29,492,740 $1,120,662

Equity/Deficit from Operations 22 ($726,637) ($252,479) ($474,158) $2,843,087 ($152,606) $2,995,693 ($152,606) $1,907,268 ($461,889) $2,631,987 $211,100

Transfers and Fund Balance Transfer from Capital Projects 23 $0 $17,163 ($17,163) $0 $206,000 ($206,000) $206,000 0.0% $0 n/a $0 $0 $0Transfer from Rate Stabilization 24 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐ Appropriated Fund Balance 25 ‐ 1,050,000 (1,050,000) ‐ 1,050,000 (1,050,000) 1,050,000 0.0% 1,050,000 0.0% ‐ ‐ ‐ Transfer to Rate Stabilization 26 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a (1,800,000) 0.0% (316,836) (545,999) 545,999 Transfer to Capital Projects 27 ‐ (87,500) 87,500 (2,350,000) (1,050,000) (1,300,000) (1,050,000) 223.8% (1,050,000) 223.8% (1,704,001) (1,704,269) (645,731) Transfer to Designated Reserves 28 ‐ ‐ ‐ ‐ ‐ ‐ ‐ n/a ‐ n/a ‐ ‐ ‐

29 $0 $979,663 ($979,663) ($2,350,000) $206,000 ($2,556,000) $206,000 ($1,800,000) ($2,020,837) ($2,250,268) ($99,732)

Total Equity/Deficit 30 ($726,637) $727,184 ($1,453,821) $493,087 $53,394 $439,693 $53,394 $107,268 ($2,482,726) $381,719 $111,368

Greenville Utilities CommissionRevenue and Expenses ‐ Gas Fund

June 30, 2021


14

Electric Water Sewer GasLine # Fund Fund Fund Fund Total

Operating revenues:Charges for services 1 15,554,171$ 2,006,379$ 2,035,771$ 1,713,355$ 21,309,676$ Other operating revenues 2 40,506 8,747 8,194 6,634 64,081

Total operating revenues 3 15,594,677 2,015,126 2,043,965 1,719,989 21,373,757

Operating expenses:Administration and general 4 1,612,129 319,327 324,043 340,741 2,596,240 Operations and maintenance 5 1,953,821 1,055,379 1,181,124 694,712 4,885,036 Purchased power and gas 6 11,294,430 ‐ ‐ 885,310 12,179,740 Depreciation 7 912,451 378,764 556,815 219,209 2,067,239

Total operating expenses 8 15,772,831 1,753,470 2,061,982 2,139,972 21,728,255

Operating income (loss) 9 (178,154) 261,656 (18,017) (419,983) (354,498)

Non‐operating revenues (expenses):Interest income 10 39,366 9,114 11,080 14,411 73,971 Debt interest expense and service charges 11 (212,145) (110,642) (292,970) (66,118) (681,875) Other nonoperating revenues 12 117,977 35,341 54,536 34,431 242,285 Other nonoperating expenses 13 ‐ (1,920,812) (2,158,902) ‐ (4,079,714)

Net nonoperating revenues 14 (54,802) (1,986,999) (2,386,256) (17,276) (4,445,333)

Income before contributions and transfers 15 (232,956) (1,725,343) (2,404,273) (437,259) (4,799,831)

Contributions and transfers:Capital contributions 16 ‐ 47,950 129,000 ‐ 176,950 Transfer to City of Greenville, General Fund 17 (323,078) ‐ ‐ (138,767) (461,845) Transfer to City of Greenville, street light reimbursement 18 (90,654) ‐ ‐ ‐ (90,654)

Total contributions and transfers 19 (413,732) 47,950 129,000 (138,767) (375,549)

Changes in net position 20 (646,688) (1,677,393) (2,275,273) (576,026) (5,175,380)

Net position, beginning of month 21 161,947,496 83,482,900 123,427,211 55,608,795 424,466,402

Net position, end of month 22 161,300,808$ 81,805,507$ 121,151,938$ 55,032,769$ 419,291,022$

Major Funds

Greenville Utilities CommissionStatement of Revenues, Expenses and Changes in Fund Net Position


15

Electric Water Sewer GasLine # Fund Fund Fund Fund Total Last Year

Operating revenues:Charges for services 1 173,104,438$ 23,396,040$ 24,311,340$ 33,026,851$ 253,838,669$ 248,349,547$ Other operating revenues 2 2,453,795 81,265 200,140 72,504 2,807,704 823,531

Total operating revenues 3 175,558,233 23,477,305 24,511,480 33,099,355 256,646,373 249,173,078

Operating expenses:Administration and general 4 12,629,915 4,194,288 4,102,889 3,994,385 24,921,477 24,596,723 Operations and maintenance 5 17,421,400 10,305,754 10,173,671 6,379,367 44,280,192 41,441,718 Purchased power and gas 6 123,938,593 ‐ ‐ 15,502,924 139,441,517 141,309,238 Depreciation 7 10,646,364 4,131,836 6,550,902 2,403,583 23,732,685 23,072,026

Total operating expenses 8 164,636,272 18,631,878 20,827,462 28,280,259 232,375,871 230,419,705

Operating income (Loss) 9 10,921,961 4,845,427 3,684,018 4,819,096 24,270,502 18,753,373

Non‐operating revenues (expenses):Interest income 10 615,861 115,666 170,213 205,702 1,107,442 3,334,680 Debt interest expense and service charges 11 (2,366,224) (1,763,166) (1,854,543) (750,216) (6,734,149) (5,052,522) Other nonoperating revenues 12 2,313,768 519,126 480,522 235,428 3,548,844 2,752,511 Other nonoperating expenses 13 ‐ (4,156,767) (3,302,052) ‐ (7,458,819) ‐

Net nonoperating revenues 14 563,405 (5,285,141) (4,505,860) (309,086) (9,536,682) 1,034,669

Income before contributions and transfers 15 11,485,366 (439,714) (821,842) 4,510,010 14,733,820 19,788,042

Contributions and transfers:Capital contributions 16 93,750 637,195 1,395,185 ‐ 2,126,130 5,528,276 Transfer to City of Greenville, General Fund 17 (3,876,969) ‐ ‐ (1,665,149) (5,542,118) (5,769,888) Transfer to City of Greenville, street light reimbursement 18 (958,023) ‐ ‐ ‐ (958,023) (884,838)

Total contributions and transfers 19 (4,741,242) 637,195 1,395,185 (1,665,149) (4,374,011) (1,126,450)

Changes in net position 20 6,744,124 197,481 573,343 2,844,861 10,359,809 18,661,592

Beginning net position 21 154,556,684 81,608,026 120,578,595 52,187,908 408,931,213 394,456,066

Ending net position 22 161,300,808$ 81,805,507$ 121,151,938$ 55,032,769$ 419,291,022$ 413,117,658$

1 Other, nonoperating revenues include miscellaneous non‐operating revenue and capital projects revenue.

Greenville Utilities CommissionStatement of Revenues, Expenses and Changes in Fund Net Position

June 30, 2021

Major Funds

Fiscal Year to Date

Preliminary

16

Line # Electric Water Sewer Gas Total Last YearSources:

Operating income 1 10,921,961$ 4,845,427$ 3,684,018$ 4,819,096$ 24,270,502$ 18,753,373$ Depreciation 2 10,646,364 4,131,836 6,550,902 2,403,583 23,732,685 23,072,026 Changes in working capital 3 2,558,115 2,124,128 1,998,105 591,324 7,271,672 7,082,306 Interest earned 4 393,533 67,560 66,225 114,473 641,791 1,604,653 FEMA/insurance reimbursement 5 195,117 15,392 41,528 13,468 265,505 407,088 Transfer from rate stabilization 6 ‐ ‐ ‐ ‐ ‐ ‐ Transfer from capital projects 7 ‐ ‐ ‐ ‐ ‐ ‐ Proceeds from debt issuance 8 30,077 2,294,153 1,730,723 7,234 4,062,187 ‐

Subtotal 9 24,745,167 13,478,496 14,071,501 7,949,178 60,244,342 50,919,446

Uses:City Turnover 10 (3,876,969) ‐ ‐ (1,665,149) (5,542,118) (5,769,888) City Street Light reimbursement 11 (958,023) ‐ ‐ ‐ (958,023) (884,838) Debt service payments 12 (4,389,145) (2,370,652) (5,613,778) (1,588,950) (13,962,525) (11,908,167) Debt Issuance costs 13 (24,344) (848,350) (225,202) (5,852) (1,103,748) 1,997 Other nonoperating expenses 14 ‐ (4,156,767) (3,302,052) ‐ (7,458,819) ‐ Capital Outlay expenditures 15 (10,332,768) (1,563,743) (2,584,194) (1,476,777) (15,957,482) (14,523,030) Transfers to Rate Stabilization Fund 16 ‐ ‐ ‐ ‐ ‐ (545,999) Transfers to Capital Projects Fund 17 (4,604,153) (2,422,533) (433,336) (2,350,000) (9,810,022) (11,729,544)

Subtotal 18 (24,185,402) (11,362,045) (12,158,562) (7,086,728) (54,792,737) (45,359,469)

Net increase (decrease) ‐ operating cash 19 559,765 2,116,451 1,912,939 862,450 5,451,605 5,559,977

Rate stabilization fundsTransfers from Operating Fund 20 ‐ ‐ ‐ ‐ ‐ 545,999 Interest earnings 21 174,102 ‐ ‐ 15,181 189,283 478,163 Transfers to Operating Fund 22 ‐ ‐ ‐ ‐ ‐ ‐

Net increase (decrease) ‐ rate stabilization fund 23 174,102 ‐ ‐ 15,181 189,283 1,024,162

Capital projects fundsProceeds from debt issuance 24 ‐ 15,560,203 ‐ ‐ 15,560,203 ‐ Contributions/grants 25 93,750 ‐ 200,000 ‐ 293,750 406,561 Interest earnings 26 48,226 41,734 97,102 76,048 263,110 1,232,046 Transfers from Operating Fund 27 4,604,153 2,422,533 433,336 2,350,000 9,810,022 11,729,544 Changes in working capital 28 18,566 (72,500) 65,155 24,239 35,460 (412,152) Capital Projects expenditures 29 (13,156,225) (19,432,769) (3,408,001) (3,107,625) (39,104,620) (44,434,108)

Net increase (decrease) ‐ capital projects 30 (8,391,530) (1,480,799) (2,612,408) (657,338) (13,142,075) (31,478,109)

Capital reserves fundsSystem development fees 31 ‐ 299,078 315,060 ‐ 614,138 856,043 Interest earnings 32 ‐ 6,372 6,886 ‐ 13,258 19,818 Transfers to Capital Projects Fund 33 ‐ ‐ ‐ ‐ ‐ ‐ Transfers to Operating Fund 34 ‐ ‐ ‐ ‐ ‐ ‐

Net increase (decrease) ‐ capital reserves 35 ‐ 305,450 321,946 ‐ 627,396 875,861

Net increase (decrease) in cash and investments 36 (7,657,663) 941,102 (377,523) 220,293 (6,873,791) (24,018,109)

Cash and investments and revenue bond proceeds, beginning 37 91,386,449$ 20,034,946$ 27,399,369$ 30,833,012$ 169,653,776$ 82,053,279$

Cash and investments and revenue bond proceeds, ending 38 83,728,786$ 20,976,048$ 27,021,846$ 31,053,305$ 162,779,985$ 58,035,170$

Greenville Utilities CommissionStatement of Cash Flows

Fiscal Year to DateJune 30, 2021Preliminary

17

Line # Electric Fund Water Fund Sewer Fund Gas Fund TotalAssetsCurrent assets:

Cash and investments ‐ Operating Fund 1 54,443,639 9,096,062 9,816,321 17,018,810 90,374,832 Cash and investments ‐ Rate Stabilization Fund 2 24,529,099 ‐ ‐ 2,170,553 26,699,652 Cash and investments ‐ Capital Project Fund 3 4,723,895 7,594,635 11,986,453 11,675,748 35,980,731 Accounts receivable, net 4 17,392,207 2,445,117 2,532,600 1,657,042 24,026,966 Due from other governments 5 1,166,429 424,927 277,551 206,065 2,074,972 Inventories 6 7,644,491 981,817 212,813 861,650 9,700,771 Prepaid expenses and deposits 7 291,388 104,998 224,499 38,995 659,880

Total current assets 8 110,191,148 20,647,556 25,050,237 33,628,863 189,517,804

Non‐current assets:Restricted assets:

Restricted cash and cash equivalents:Bond funds 9 32,153 3,219,029 1,891,418 188,194 5,330,794 Capacity fees 10 ‐ ‐ 2,158,902 ‐ 2,158,902 System development fees 11 ‐ 1,066,322 1,168,752 ‐ 2,235,074

Total restricted cash and cash equivalents 12 32,153 4,285,351 5,219,072 188,194 9,724,770

Total restricted assets 13 32,153 4,285,351 5,219,072 188,194 9,724,770

Notes receivable 14 ‐ 182,099 ‐ ‐ 182,099

Capital assets:Land, easements and construction in progress 15 45,819,342 36,073,100 15,144,069 11,183,656 108,220,167 Other capital assets, net of depreciation 16 106,100,675 79,802,331 139,840,849 40,320,450 366,064,305 Total capital assets 17 151,920,017 115,875,431 154,984,918 51,504,106 474,284,472

Total non‐current assets 18 151,952,170 120,342,881 160,203,990 51,692,300 484,191,341

Total assets 19 262,143,318 140,990,437 185,254,227 85,321,163 673,709,145

Deferred Outflows of ResourcesPension deferrals 20 3,029,313 1,625,485 1,551,599 1,182,171 7,388,568 OPEB deferrals 21 6,128,584 3,288,509 3,139,032 2,391,642 14,947,767 Unamortized bond refunding charges 22 369,546 509,142 487,566 71,808 1,438,062

Total deferred outflows of resources 23 9,527,443 5,423,136 5,178,197 3,645,621 23,774,397

LiabilitiesCurrent liabilities:

Accounts payable and accrued expenses 24 13,232,082 2,465,000 736,093 1,503,570 17,936,745 Customer deposits 25 3,667,877 2,696,092 2,160,372 456,047 8,980,388 Accrued interest payable 26 777,396 280,786 391,796 234,205 1,684,183 Due to City of Greenville 27 83,197 ‐ ‐ ‐ 83,197 Unearned revenue2 28 ‐ 18,600 10,080 ‐ 28,680 Current portion of compensated absences 29 661,979 320,742 292,225 262,402 1,537,348 Current maturities of long‐term debt 30 ‐ ‐ ‐ ‐ ‐

Total current liabilities 31 18,422,531 5,781,220 3,590,566 2,456,224 30,250,541

Non‐current liabilitiesCompensated absences 32 575,502 308,154 288,631 299,552 1,471,839 Long‐term debt, excluding current portion 33 62,154,596 42,841,103 50,436,319 19,776,356 175,208,374 Net OPEB liability 34 22,288,744 11,959,815 11,416,186 8,698,046 54,362,791 Net pension liability 35 5,027,690 2,697,785 2,575,158 1,962,025 12,262,658

Total non current liabilities 36 90,046,532 57,806,857 64,716,294 30,735,979 243,305,662

Total liabilities 37 108,469,063 63,588,077 68,306,860 33,192,203 273,556,203

Deferred Inflows of ResourcesPension deferrals 38 38,283 20,542 19,608 14,940 93,373 OPEB deferrals 39 1,862,607 999,447 954,018 726,872 4,542,944

Total deferred inflows of resources 40 1,900,890 1,019,989 973,626 741,812 4,636,317

Net PositionNet investment in capital assets 41 90,167,120 76,762,499 106,927,583 31,987,752 305,844,954 Unrestricted 42 71,133,688 5,043,008 14,224,355 23,045,017 113,446,068

Total net position 43 161,300,808$ 81,805,507$ 121,151,938$ 55,032,769$ 419,291,022$

1 Negative cash balances in the Capital Projects funds reflect reimbursements due from revenue bonds, SRF loans and grants.2 Unearned revenue includes prepaid street light installations and prepaid water and sewer tap fees.

Greenville Utilities CommissionStatement of Net Position


18

Project # Project Name Original Budget Board

Approval

Current Approved Budget

Current Month Expenditures

Year To Date Expenditures

Project To Date Expenditures

% of Budget

Expended Encumbrances Available Budget

Estimated Completion Date

FCP10072 New Operations Center Phase 2 4,000,000 6/9/2016 52,550,000 77,016 15,395,457 50,898,570 96.9% 266,153 1,385,277 7/31/2021FCP10160 New Operations Center ‐ Fleet Maintenance Building 7,000,000 6/11/2020 7,750,000 21,644 274,181 274,181 3.5% 6,422,986 1,052,833 6/30/2023ICP10189 Asset Management Software 3,100,000 6/10/2021 3,100,000 ‐ ‐ ‐ 0.0% ‐ 3,100,000 8/30/2022

Total Shared Capital Projects 14,100,000$ 63,400,000$ 98,660$ 15,669,638$ 51,172,751$ 80.7% 6,689,139$ 5,538,110$

ECP‐133 Sugg Parkway Transmission Line 1,700,000 5/17/2011 1,700,000 22,334 1,089,345 1,095,495 64.4% 1,140 603,365 6/1/2021ECP‐134 Sugg Parkway Substation 3,400,000 5/17/2011 3,400,000 90,256 1,209,354 1,326,604 39.0% 1,624,678 448,718 11/1/2021ECP10168 POD #3 to Simpson Substation 115 kV Transmission Loop 300,000 6/9/2016 300,000 ‐ 16,307 170,474 56.8% ‐ 129,526 6/30/2025ECP10174 Electric System Expansion 2,500,000 6/8/2017 2,500,000 ‐ ‐ ‐ 0.0% ‐ 2,500,000 6/30/2021ECP10208 Battery Storage Pilot Program 1MW 1,600,000 6/13/2019 1,600,000 19,924 896,580 1,025,200 64.1% ‐ 574,800 3/31/2021ECP10218 Mt. Pleasant to Wellcome 115 kV Transmission 8,892,000 6/11/2020 8,892,000 78,300 249,517 249,517 2.8% 240,779 8,401,704 6/30/2023ECP10219 Peak Shaving Generator(s) Replacement 6,000,000 6/11/2020 6,000,000 ‐ 316,650 316,650 5.3% 738,850 4,944,500 6/30/2025ECP10220 Transmission Structure Replacement(s) 2,000,000 6/11/2020 2,000,000 83,535 592,036 592,036 29.6% 186,826 1,221,138 6/30/2025

Total Electric Capital Projects 26,392,000$ 26,392,000$ 294,349$ 4,369,789$ 4,775,976$ 18.1% 2,792,273$ 18,823,751$

WCP‐117 WTP Upgrade Phase I 1,900,000 6/12/2014 55,000,000 3,952,695 18,432,837 24,625,355 44.8% 28,745,665 1,628,980 12/31/2023WCP‐121 10th Street Connector Project 892,500 10/16/2014 1,896,000 ‐ ‐ 5,875 0.3% 851,079 1,039,046 TBD by NCDOTWCP‐123 COG Town Creek Culvert Improvement 80,000 3/19/2015 1,260,000 ‐ ‐ 150 0.0% ‐ 1,259,850 12/31/2020WCP‐124 Residual Lagoon Improvements 1,250,000 6/11/2015 1,250,000 ‐ 369,133 948,982 75.9% 19,758 281,260 6/30/2022WCP10030 Water Distribution System Improvements 500,000 6/14/2018 500,000 ‐ ‐ ‐ 0.0% ‐ 500,000 12/31/2022WCP10032 Water Main Rehabilitation Program Phase II 1,000,000 6/13/2019 1,000,000 ‐ 64,172 149,837 15.0% 31,818 818,345 12/31/2021WCP10033 Water Treatment Plan Riverbank Stabilization 1,500,000 6/11/2020 1,500,000 ‐ ‐ ‐ 0.0% ‐ 1,500,000 6/30/2021WCP10035 Bethel Water System Improvements 1,367,000 4/19/2021 1,367,000 ‐ ‐ ‐ 0.0% ‐ 1,367,000 12/31/2023WCP10036 Elm Street Water Main Relocations 375,000 6/10/2021 375,000 ‐ ‐ ‐ 0.0% ‐ 375,000 6/30/2024

Total Water Capital Projects 8,864,500$ 64,148,000$ 3,952,695$ 18,866,142$ 25,730,199$ 40.1% 29,648,320$ 8,769,481$

SCP‐123 COG Town Creek Culvert Improvement 80,000 3/19/2015 2,950,000 ‐ ‐ 50,593 1.7% ‐ 2,899,407 12/31/2020SCP10217 10th Street Connector Project 306,000 6/9/2016 306,000 ‐ ‐ ‐ 0.0% ‐ 306,000 TBD by NCDOTSCP10221 Southeast Sewer Service Area Project 2,500,000 6/8/2017 3,000,000 52,875 195,688 205,102 6.8% 23,331 2,771,567 1/31/2022SCP10222 Sewer Outfall Rehabilitation Phase 4 2,480,000 6/8/2017 2,480,000 ‐ 48,766 364,536 14.7% 2,015,368 100,096 12/31/2022SCP10223 Regional Pump Station Upgrades 1,800,000 6/8/2017 1,800,000 330 176,135 1,180,936 65.6% ‐ 619,064 6/30/2021SCP10229 Greene Street Pump Station and Force Main 1,100,000 6/14/2018 2,200,000 792 101,879 138,339 6.3% 231,293 1,830,368 12/31/2021SCP10230 Forlines Pump Station Expansion 250,000 6/14/2018 2,250,000 9,947 136,929 156,597 7.0% 42,855 2,050,548 7/31/2021SCP10233 WWTP Headworks Improvements 2,500,000 6/13/2019 2,500,000 ‐ 310,000 310,000 12.4% 31,000 2,159,000 12/31/2021SCP10235 Duplex Pump Station Improvements 500,000 6/13/2019 500,000 ‐ 18,202 414,949 83.0% ‐ 85,051 6/30/2022SCP10238 WWTP Clarifier Replacement Project 6,000,000 8/19/2019 7,500,000 ‐ ‐ ‐ 0.0% ‐ 7,500,000 7/31/2022SCP10241 Bethel Wastewater System Improvements 3,000,000 4/19/2021 3,000,000 ‐ ‐ ‐ 0.0% ‐ 3,000,000 12/31/2023SCP10242 Sewer System Impr. for Industry and Commercial 656,000 6/10/2021 656,000 ‐ ‐ ‐ 0.0% ‐ 656,000 6/30/2022SCP10243 Elm Street Sewer Pipeline Relocations 325,000 6/10/2021 325,000 ‐ ‐ ‐ 0.0% ‐ 325,000 6/30/2024SCP10244 Sewer System Extensions Phase I 3,244,000 6/10/2021 3,244,000 ‐ ‐ ‐ 0.0% ‐ 3,244,000 6/30/2023

Total Sewer Capital Projects 24,741,000$ 32,711,000$ 63,944$ 987,599$ 2,821,052$ 8.6% 2,343,847$ 27,546,101$

GCP‐92 LNG Liquefaction Additions 1,000,000 6/11/2015 1,000,000 ‐ ‐ 28,428 2.8% ‐ 971,572 On HoldGCP10099 High‐Pressure Multiple Gas Facilities Relocation 9,500,000 6/8/2017 5,200,000 12,870 24,081 91,505 1.8% 19,829 5,088,666 6/30/2023GCP10101 Firetower Road Widening 1,300,000 6/8/2017 1,300,000 ‐ ‐ ‐ 0.0% ‐ 1,300,000 12/31/2022GCP10104 Memorial Drive Bridge Replacement 1,500,000 6/14/2018 2,000,000 ‐ 293,834 403,032 20.2% 1,566,015 30,953 TBD by NCDOTGCP10108 Allen Road Widening (NCDOT U‐5875) 1,000,000 6/13/2019 1,000,000 ‐ ‐ ‐ 0.0% ‐ 1,000,000 12/31/2023GCP10109 Integrity Management Replacement Project 1,750,000 6/13/2019 1,750,000 66,379 337,634 337,634 19.3% 82,561 1,329,805 6/30/2022GCP10112 VOA Road Loop 1,200,000 6/11/2020 1,200,000 5,330 100,109 100,109 8.3% 90,691 1,009,200 6/30/2023GCP10113 Evans Street Widening (NCDOT U‐2817) 136,000 6/11/2020 136,000 ‐ ‐ ‐ 0.0% ‐ 136,000 6/30/2025GCP10114 14th Street Widening (NCDOT U‐5917) 57,000 6/11/2020 100,000 ‐ ‐ ‐ 0.0% ‐ 100,000 6/30/2026

Total Gas Capital Projects 17,443,000$ 13,686,000$ 84,579$ 755,658$ 960,708$ 7.0% 1,759,096$ 10,966,196$

Grand Total Capital Projects 91,540,500$ 200,337,000$ 4,494,227$ 40,648,826$ 85,460,686$ 42.7% 43,232,675$ 71,643,639$

Capital Projects Summary ReportJune 30, 2021

19

Investment Portfolio DiversificationJune 30, 2021

Certificates of Deposit

$5,179,3603.3%

NCCMT$6,435,913

4.1%

Checking Accounts$7,414,452

4.8% Money Market Accounts

$88,742,15756.7%

Federal Agencies and US

Treasuries$48,750,000

31.1%

Investments by Type

$156,521,882

FFCB$500,0001.0%

FHLB, $5,150,000

10.6%

US Treasury Notes

$41,100,00084.3%

US Treasury Bills$2,000,000

4.1%

Federal Agencies & US Treasuries by Issuer

$48,750,000

Bank of America$2,539,812

2.8%Carter

$102,2660.1%

Dogwood$24,838,232

28.0% First Bank$4,121,814

4.6%

First Horizon$136,1470.2%

First National$13,203,291

14.9%

Pinnacle$2,098,704

2.4%

Select$923,8611.0%

Southern$4,340,046

4.9%

TowneBank$26,858,780

30.3%

TowneBank$8,500,994

9.6%

Union$25,2060.0%

United$1,053,004

1.2%

Money Market Accounts by Issuer

$88,742,157

20

Cash and Investment ReportJune 30, 2021

0.000%

0.500%

1.000%

91 Day T Bill NCCMT GUC

Yield ComparisonCurrent Month Prior Month

0.00%

25.00%

50.00%

75.00%

100.00%

0‐30 31‐90 91‐180 181‐365

366‐730

731‐1095

1096‐1825

Days to MaturityPercent of Portfolio

Current Month Prior Month

0.00%

10.00%

20.00%

30.00%

Portfolio by IssuerCurrent Month Prior Month

21

GUC InvestmentsSummary by Issuer

June 30, 2021

% of Portfolio

Average Daysto Maturity

ParValueIssuer

Number ofInvestments

AverageYTM 365Remaining Cost

Bank of America 8,661,581.06 5.53 0.0532 18,661,581.06

Carter Bank 102,266.43 0.07 0.2001 1102,266.43

Dogwood State Bank 24,838,232.18 15.86 0.4501 124,838,232.18

First Bank 4,121,814.49 2.63 0.3001 14,121,814.49

Federal Farm Credit Bank 500,000.00 0.32 0.3701 988500,000.00

First Horizon Bank 1,428,829.84 0.91 0.0062 11,428,829.84

Federal Home Loan Bank 5,193,612.50 3.32 1.5093 6875,150,000.00

First National Bank 13,203,290.83 8.43 0.2101 113,203,290.83

N C Capital Management Trust 6,435,918.55 4.11 0.0102 16,435,918.55

Pinnacle Bank 2,098,703.74 1.34 0.2001 12,098,703.74

Select Bank & Trust Co. 923,860.80 0.59 0.0501 1923,860.80

Southern Bank & Trust Co. 4,340,046.45 2.77 0.1501 14,340,046.45

US Treasury Note 41,187,404.20 26.29 1.03015 28741,100,000.00

US Treasury Bill 1,999,557.56 1.28 0.0451 1682,000,000.00

TowneBank 40,539,133.65 25.88 0.2693 540,539,133.65

Union Bank 25,206.07 0.02 0.1001 125,206.07

United Bank 1,053,003.69 0.67 0.6501 11,053,003.69

Total and Average 38 156,652,462.04 100.00 0.504 105156,521,887.78

Portfolio GUCCP

Run Date: 07/08/2021 - 08:59 SI (PRF_SI) 7.1.1Report Ver. 7.3.6.1

22

YTM365

Page 1

Par Value Book ValueMaturity

DateStated

RateMarket Value

June 30, 2021Portfolio Details - Investments

AverageBalanceIssuer

Portfolio ManagementGUC Investments

Days toMaturity

YTM360 CUSIP Investment #

PurchaseDate

Certificates of Deposit - Bank0.660TowneBank1138 5,179,360.03 5,179,360.03 08/01/20210.66002/01/2021 5,179,360.03 0.651SYS1138 31

5,179,360.03 0.6515,179,360.035,179,360.035,179,360.03Subtotal and Average 0.660 31

NC Capital Management Trust0.010N C Capital Management Trust33 1,874,066.45 1,874,066.45 0.0101,874,066.45 0.010SYS33 10.010N C Capital Management Trust988 4,561,852.10 4,561,852.10 0.0104,561,852.10 0.010SYS988 1


Passbook/Checking Accounts0.000Bank of America735 6,121,768.95 6,121,768.956,121,768.95 0.000SYS735 10.000First Horizon Bank974 1,292,682.82 1,292,682.8207/01/2020 1,292,682.82 0.000SYS974 1


Money Market Accounts0.180Bank of America733 2,539,812.11 2,539,812.11 0.1802,539,812.11 0.178SYS733 10.200Carter Bank1082 102,266.43 102,266.43 0.200102,266.43 0.197SYS1082 10.450Dogwood State Bank1125 24,838,232.18 24,838,232.18 0.45024,838,232.18 0.444SYS1125 10.300First Bank946 4,121,814.49 4,121,814.49 0.3004,121,814.49 0.296SYS946 10.058First Horizon Bank975 136,147.02 136,147.02 0.058136,147.02 0.057SYS975 10.210First National Bank899 13,203,290.83 13,203,290.83 0.21013,203,290.83 0.207SYS899 10.200Pinnacle Bank915 2,098,703.74 2,098,703.74 0.2002,098,703.74 0.197SYS915 10.050Select Bank & Trust Co.916 923,860.80 923,860.80 0.050923,860.80 0.049SYS916 10.150Southern Bank & Trust Co.917 4,340,046.45 4,340,046.45 0.1504,340,046.45 0.148SYS917 10.200TowneBank1032 26,858,779.69 26,858,779.69 0.20026,858,779.69 0.197SYS1032 10.250TowneBank1147 8,500,993.93 8,500,993.93 0.25006/07/2021 8,500,993.93 0.247SYS1147 10.100Union Bank927 25,206.07 25,206.07 0.10025,206.07 0.099SYS927 10.650United Bank954 1,053,003.69 1,053,003.69 0.6501,053,003.69 0.641SYS954 1


Federal Agency Coupon Securities0.370Federal Farm Credit Bank1140 500,000.00 500,000.00 03/15/20240.37003/15/2021 499,038.11 0.3653133EMTD4 9881.643Federal Home Loan Bank1093 2,250,000.00 2,273,332.50 09/09/20222.00009/13/2019 2,300,895.00 1.620313380GJ0 4351.628Federal Home Loan Bank1099 1,950,000.00 1,970,280.00 09/09/20222.00010/23/2019 1,994,109.00 1.606313380GJ0 4350.938Federal Home Loan Bank1144 950,000.00 950,000.00 06/16/20260.50006/17/2021 949,221.00 0.9253130AMQK1 1,811


Portfolio GUCCP

Run Date: 07/08/2021 - 08:56 PM (PRF_PM2) 7.3.0

Report Ver. 7.3.6.123

YTM365

Page 2

Par Value Book ValueMaturity

DateStated

RateMarket Value

June 30, 2021Portfolio Details - Investments

AverageBalanceIssuer

Portfolio ManagementGUC Investments

Days toMaturity

YTM360 CUSIP Investment #

PurchaseDate

Treasury Coupon Securities2.457US Treasury Note1019 2,250,000.00 2,220,468.75 12/31/20212.00001/02/2019 2,271,600.00 2.424912828U81 1832.271US Treasury Note1062 2,100,000.00 2,076,046.88 03/31/20221.87504/02/2019 2,128,140.00 2.240912828W89 2731.734US Treasury Note1087 2,250,000.00 2,251,054.69 06/30/20221.75007/02/2019 2,286,945.00 1.710912828XW5 3641.596US Treasury Note1102 1,950,000.00 1,966,833.98 12/31/20212.00010/23/2019 1,968,720.00 1.575912828U81 1831.565US Treasury Note1105 2,100,000.00 2,115,503.90 03/31/20221.87510/24/2019 2,128,140.00 1.543912828W89 2731.605US Treasury Note1109 2,100,000.00 2,080,886.70 09/30/20211.12510/25/2019 2,105,670.00 1.583912828T34 911.559US Treasury Note1110 1,950,000.00 1,959,750.00 06/30/20221.75010/25/2019 1,982,019.00 1.537912828XW5 3641.604US Treasury Note1126 4,300,000.00 4,302,519.50 12/15/20221.62501/02/2020 4,391,891.00 1.583912828YW4 5320.093US Treasury Note1136 4,200,000.00 4,244,460.91 09/30/20211.50012/29/2020 4,215,162.00 0.092912828YJ3 910.088US Treasury Note1137 9,000,000.00 9,093,515.63 09/30/20211.50001/04/2021 9,032,490.00 0.087912828YJ3 910.183US Treasury Note1141 1,000,000.00 1,054,765.62 06/30/20232.62504/01/2021 1,047,390.00 0.1819128284U1 7290.058US Treasury Note1142 2,300,000.00 2,333,421.88 12/31/20212.00004/01/2021 2,322,080.00 0.057912828U81 1830.157US Treasury Note1143 1,000,000.00 1,006,679.68 03/15/20230.50004/01/2021 1,005,180.00 0.155912828ZD5 6220.413US Treasury Note1146 2,500,000.00 2,487,890.63 06/15/20240.25006/18/2021 2,485,050.00 0.40791282CCG4 1,0802.962US Treasury Note995 2,100,000.00 1,993,605.45 09/30/20211.12511/06/2018 2,105,670.00 2.921912828T34 91


Miscellaneous Discounts -Amortizing0.045US Treasury Bill1145 2,000,000.00 1,999,557.56 12/16/20210.04406/18/2021 1,999,580.00 0.045912796J67 168


0.497156,381,476.47 156,521,887.78 0.504 105156,990,877.89 156,652,462.04Total and Average

Portfolio GUCCP

Run Date: 07/08/2021 - 08:56 PM (PRF_PM2) 7.3.0

24

Item: Consideration of Budget Amendment for Electric Capital Project (ECP 10168) Point of Delivery #3 to Simpson Substation Transmission Loop

Contact: Ken Wade

Explanation: This project includes construction of a 115 kV transmission line for Point of Delivery #3 to Simpson substation. The line will also feed new Hudson’s Crossroads substation and will complete the loop from G230S back to G230. Staff is proposing that the project budget be amended from $300,000 to $600,000 to facilitate acquisition of easements, railroad crossing permits, and design of transmission loop. After the preliminary work has been completed, construction is anticipated to begin in FY 2023-24 and the total projected cost of this project at this time is $8.5M.

Strategic Plan

Elements: Strategic Themes:

• Exceptional Customer Service • Safety, Reliability & Value • Shaping Our Future


stability of the utility • Exceeding customer expectations • Safely providing reliable and innovative utility solutions • Recruiting and retaining an exceptional, motivated, diverse, and

agile workforce • Developing and enhancing strategic partnerships • Embracing change to ensure organizational alignment and


• Exceed Customers’ Expectations • Act with Integrity • Value Employees • Deliver Reliable Services • Prioritize Safety • Support the Community


Previous Board

Actions: Capital Project Budget was previously approved by the Board and the City

Council on August 15, 2016.

Fiscal Note: Major changes to ECP 10168 – POD#3 to Simpson Substation Transmission Loop capital project are listed below: Capital Project:

Revenue Description

Budget Change Revised

Long-Term Debt $300,000 $300,000 $600,000


Adopt capital project budget amendment and reimbursement resolution. Recommend similar action to be taken by the City Council.

Current RevisedProject Name Budget Change Budget

ECP10168 POD #3 to Simpson Substation 115 kV Transmission Loop

Revenues:Long-Term Debt $ 300,000 $ 300,000 $ 600,000 Total Revenue $ 300,000 $ 300,000 $ 600,000

Expenditures:Project Costs $ 300,000 $ 300,000 $ 600,000 Total Expenditures $ 300,000 $ 300,000 $ 600,000

Greenville Utilities CommissionCapital Project Budget

As of July 15, 2021




SYSTEM


the Greenville Utilities Commission (the “Commission”) has been created for the proper management of the public utilities of the City of Greenville, North Carolina (the “City”), comprising an electric system, a natural gas system, a sanitary sewer system and a water system within and without the corporate limits of the City, (collectively the “Combined Enterprise System”) with responsibility for the entire supervision and control of the management, operation, maintenance, improvement and extension of the Combined Enterprise System;



WHEREAS, the Additional Improvement consists of an electric substation transmission loop project; now, therefore, BE IT RESOLVED BY THE GREENVILLE UTILITIES COMMISSION as follows; 1. The City is hereby requested to give favorable consideration to and pass the proposed resolution, which resolution (the "Reimbursement Resolution") effectively would provide for the reimbursement to the Commission from the proceeds of one or more Debt financing(s) (estimated to be $600,000) for certain expenditures for the Additional Improvements made not more than 60 days prior to the adoption of the Reimbursement Resolution, the Commission having determined that such adoption will be in the best interests of the Combined Enterprise System. 2. This resolution shall take effect immediately upon its passage, and a certified copy thereof shall be provided to the City Clerk for presentation to the City Council at its next regularly scheduled meeting. Adopted this the 15th day of July, 2021.

_____________________________

Chair ATTEST: _____________________________ Secretary APPROVED AS TO FORM: Phillip R. Dixon General Counsel

RESOLUTION NO. ____ RESOLUTION DECLARING THE INTENTION OF THE







WHEREAS, the Additional Improvement consists of an electric substation transmission loop project; and




Section 2. Each Expenditure was or will be either (a) of a type chargeable to capital account under general federal income tax principles (determined as of the date of the Expenditures), (b) the cost of issuance with respect to the Debt, (c) a non-recurring item that is not customarily payable from current revenues of the Combined Enterprise System, or (d) a grant to a party that is not related to or an agent of the Commission or City so long as such grant does not

impose any obligation or condition (directly or indirectly) to repay any amount to or for the benefit of the Commission or City.

Section 3. The principal amount of the Debt estimated to be issued to reimburse the Commission for Expenditures for the Improvements is estimated to be not more than $600,000.




Adopted this the 9th day of August, 2021.

____________________________________ P. J. Connelly, Mayor

ATTEST:

_____________________

Valerie Shiuwegar

City Clerk


Ayes: __________________________________________________________________

_____________________________________________________________________________.

Noes: __________________________________________________________________.

* * * * * *

I, Valerie Shiuwegar, Clerk of the City of Greenville, North Carolina DO HEREBY CERTIFY that the foregoing accurately reflects the proceedings as recorded in the minutes of the City Council of said City at a meeting held on 9th day of August, 2021 and contains the verbatim text of Resolution No. __-21 which was duly adopted by said City Council at said meeting.

WITNESS my hand and the official seal of said City, this 9th day of August, 2021.

___________________________________

City Clerk

[SEAL]

Item: Update of Annual Statement of Conflict-of-Interest Policy, Disclosure, and Ethics Briefing

Contact:

Phillip R. Dixon, General Counsel

Explanation: The 2009 N.C. General Assembly passed legislation requiring various local governing bodies to adopt a resolution or policy containing a code of ethics to guide board members in the performance of their duties as members of the governing board. While GUC is not covered by the State Ethics Act, Phil Dixon previously recommended that the GUC Board consider the adoption of an ethics policy and the Commission did so. In this regard, the League of Municipalities had developed a model code that Boards could use in developing their own code of ethics. Phil Dixon, in collaboration with the City Attorney, developed a code of ethics that was adopted by the Commission and by the City Council of the City of Greenville. Phil Dixon recommends that the Board members consider executing the attached “Conflict of Interest Policy and Disclosure Form” annually to ensure that we avoid any conflict of interest issues. The form outlines what to do if a Commissioner thinks he or she has a potential conflict of interest over a matter coming before the Board.


Strategic Themes: • Safety, Reliability, and Value • Exceptional Customer Service

Objectives: • Safely providing reliable and innovative utility solutions • Providing competitive rates, while maintaining the financial

stability of the utility • Exceeding customer expectations

Core Values: • Deliver Reliable Services


Previous Board Actions:

N/A

Fiscal Note: N/A


None

MEMORANDUM

To: Members of the Board of Commissioners of Greenville Utilities Commission From: Phillip R. Dixon, General Counsel Date: July 15, 2021 Re: Model Code of Ethics The 2009 North Carolina General Assembly enacted legislation requiring various local governing boards to adopt a resolution or policy containing a Code of Ethics to guide board members in the performance of their duties as members of the governing board. Both the City of Greenville and Greenville Utilities Commission jointly adopted a Code of Ethics for Council Members of the City Council and Members of the Board of Commissioners to guide you in your deliberations. The assumption of the Code of Ethics is that the public trust can only be preserved by elected or appointed officials who are serious about their calling and make informed decisions that reflect core ethical principles they hold in common with citizens they represent. Some patterns of behavior that might be desirable in Council or Board Members might only be achieved by the good faith efforts of the individual Council or Board Members themselves rather than a Code of Ethics, but this Memorandum is intended to provide you with a summary of key points about which you should be conscious and particularly sensitive. Remember that it is the collective wisdom of the Council or Board that should guide decision making; not an individual person’s opinion. Moreover, if you are ever in doubt about what course of conduct is legal in a particular situation, you should seek the advice of the General Counsel, or a Staff Attorney at the University of North Carolina School of Government, or the North Carolina League of Municipalities, which are resources available to any elected or appointed public official. Please keep the following principles in mind as you conduct the business of the Commission:

1. The law specifically requires you to vote in all cases where your “own financial interest or official conduct” is not involved. Remember you must vote, even if you may have a personal connection to the matter in question that would normally make it uncomfortable for you to do so, unless the remaining members of the Board of Commissioners excuse you from voting. If you abstain from voting, you must submit in writing a statement of the reason(s) for your abstention and this must be recorded in the Board’s Minutes.

2. Commissioners are expected to faithfully attend meetings and review the Agenda materials prior to attending any meeting so they can make measured, deliberate, knowledgeable, and informed decisions. This also means that you should demand accountability from other Commissioners and you should insist that they also be adequately informed and not be acting on the basis of misinformation or a lack of information.

3. Commissioners should obey the “spirit” as well as the “letter of the law” in whatever they do. “Splitting hairs” will not generally be well received by citizens, the press, or fellow Commissioners who may regard questionable behavior as “unseemly” even if it is not illegal. In the words of my former senior partner, you should avoid even the “appearance of impropriety.” Remember that even behavior that may be quite innocent may appear improper in the eyes of those observing it.

4. Treat other Commissioners and the public with respect and try to avoid reaching a conclusion on an issue until both sides of an issue have been heard.

5. Keep confidential information from legally called and held closed sessions and keep

private information that the General Counsel has determined is confidential until you are advised that it is proper to release such information.

6. Conduct the affairs of the Commission in an open and public manner and comply with all applicable laws governing open meetings and public records. Remember that local government records belong to the public and not to the board members or their employees.

7. Endeavor to operate in an environment of transparency and candor. Remember it is the public policy of the State of North Carolina that all hearings, deliberations, and actions of the public bodies are conducted openly and that very broad access be given to public records.

8. Violations of the open meetings laws and public records law can have real legal and financial consequences and can also cause bad publicity and a loss of citizen’s trust in government.

9. Start each meeting by asking members of the Commission to voluntarily inform the other members of the board if there is any matter on the agenda that might present a conflict of interest or might require the member to be excused from voting.

10. Avoid deriving a direct benefit from any contract in which you are involved in making or administering on behalf of the Commission. Do not attempt to influence others involved in making or administering a contract on behalf of the Commission if you are not involved or if you are derived a direct benefit from the contract.

11. Avoid soliciting or receiving any gift or reward in exchange for recommending, influencing, or attempting to influence the award of a contract by the Commission.

12. Avoid receiving any gift or favor from a current, past, or potential contractor with the Commission.

13. Remember that a public officer or employee derives a direct benefit from the contract (1) if the person or his or her spouse has more than a ten percent (10%) ownership interest in an entity that is a party to a contract, or (2) if they derive any income or commission directly from the contract, or (3) if they acquire any property under the contract.

14. In the course of your service, you will receive certain confidential and privileged information and your misuse of this information could result in liability to both you and the Commission, including liability for attorney fees.

A practicable solution is simply to ask the General Manager/CEO or the General Counsel if you have a concern about whether any action that you may take or expect to take might have the potential for constituting a conflict of interest.

GS_138A-36

MEMORANDUM

To: Members of the Board of Commissioners

From: ___________________________________, Commissioner/Board Member

Concerning: Statement of Reasons for Abstention from Board Action pursuant to North Carolina General Statute § 138A-36(b)

Date: ___________________________________

Matter before the Board: ________________________________________________________

Briefly summarize reasons for abstention below:

_________________________________________ (Signature of Board Member)

§ 138A-36. Public servant participation in official actions, NC ST § 138A-36

© 2015 Thomson Reuters. No claim to original U.S. Government Works. 1

West's North Carolina General Statutes AnnotatedChapter 138A. State Government Ethics Act

Article 4. Ethical Standards for Covered Persons

N.C.G.S.A. § 138A-36

§ 138A-36. Public servant participation in official actions

Effective: October 1, 2007Currentness

(a) Except as permitted by subsection (d) of this section and under G.S. 138A-38, no public servant acting in that capacity,authorized to perform an official action requiring the exercise of discretion, shall participate in an official action by theemploying entity if the public servant knows the public servant or a person with which the public servant is associated may incura reasonably foreseeable financial benefit from the matter under consideration, which financial benefit would impair the publicservant's independence of judgment or from which it could reasonably be inferred that the financial benefit would influencethe public servant's participation in the official action.

(b) A public servant described in subsection (a) of this section shall abstain from taking any verbal or written action in furtheranceof the official action. The public servant shall submit in writing to the employing entity the reasons for the abstention. Whenthe employing entity is a board, the abstention shall be recorded in the employing entity's minutes.

(c) A public servant shall take appropriate steps, under the particular circumstances and considering the type of proceedinginvolved, to remove himself or herself to the extent necessary, to protect the public interest and comply with this Chapter, fromany proceeding in which the public servant's impartiality might reasonably be questioned due to the public servant's familial,personal, or financial relationship with a participant in the proceeding. A participant includes (i) an owner, shareholder, partner,member or manager of a limited liability company, employee, agent, officer, or director of a business, organization, or groupinvolved in the proceeding, or (ii) an organization or group that has petitioned for rule making or has some specific, unique,and substantial interest in the proceeding. Proceedings include quasi-judicial proceedings and quasi-legislative proceedings. Apersonal relationship includes one in a leadership or policy-making position in a business, organization, or group.

(d) If a public servant is uncertain about whether the relationship described in subsection (c) of this section justifies removingthe public servant from the proceeding under subsection (c) of this section, the public servant shall disclose the relationshipto the individual presiding over the proceeding and seek appropriate guidance. The presiding officer, in consultation withlegal counsel if necessary, shall then determine the extent to which the public servant will be permitted to participate. If theaffected public servant is the individual presiding, then the vice-chair or any other substitute presiding officer shall make thedetermination. A good-faith determination under this subsection of the allowable degree of participation by a public servant ispresumptively valid and only subject to review under G.S. 138A-12 upon a clear and convincing showing of mistake, fraud,abuse of discretion, or willful disregard of this Chapter.

(e) This section shall not allow participation in an official action prohibited by G.S. 14-234.

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§ 138A-36. Public servant participation in official actions, NC ST § 138A-36

© 2015 Thomson Reuters. No claim to original U.S. Government Works. 2

CreditsAdded by S.L. 2006-201, § 1, eff. Oct. 1, 2006. Amended by S.L. 2007-347, § 12, eff. Aug. 9, 2007; S.L. 2007-348, § 42, eff.Oct. 1, 2007; S.L. 2008-213, § 84(a), eff. Aug. 15, 2008.

N.C.G.S.A. § 138A-36, NC ST § 138A-36The statutes and Constitution are current through Chapter 153, excluding 117, of the 2015 Regular Session of the GeneralAssembly.

End of Document © 2015 Thomson Reuters. No claim to original U.S. Government Works.

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Greenville Utilities Commission of the City of Greenville, NC Conflict of Interest Policy and Disclosure Form

The members of the Board of Commissioners of Greenville Utilities Commission of the City of Greenville, NC (“the Commission”) shall avoid conflicts of interest and any conduct which may suggest the appearance of impropriety. If a potential conflict of interest arises, the Commissioner must disclose the potential conflict to the full Board. Further, the Commissioner shall not vote on nor participate in the solicitation, negotiation, formation, award, arbitration, modification, or settlement of any contract or grant involving any funds or any dispute arising under such contract or grant when the Commissioner stands to benefit, either directly or indirectly, from such contract or grant. A Commissioner is not deemed to benefit directly or indirectly from a contract or grant if he or she receives only the salary or stipend due to him or her in the general course of employment with or service to the Commission. Conflict of Interest Disclosure: Date: _____________________________________________________ Name: ___________________________________________________ Position: _________________________________________________ Please describe below any relationship, transactions, positions you hold (volunteer or otherwise), or circumstances that you believe could contribute to a conflict of interest between Commission and your personal interests, financial or otherwise: _______ I have no conflict of interest to report. _______ I have the following conflict of interest to report (please specify):

1. ______________________________________________________________

2. _______________________________________________________________

3. _______________________________________________________________

I hereby certify that the information set forth above is true and complete to the best of my knowledge. I have reviewed, and agree to abide by, the Conflict of Interest Policy of Commission. Signature: ___________________________________________________________ Commissioner Date: ______________________________________________________________

Item: Update of Activities by General Counsel

Contact:

Phillip R. Dixon

Explanation: As requested by the Board, our General Counsel will discuss the legal activities that he has been involved with on behalf of GUC over the past year, which is the last time the Board was provided with an update of legal activities.


Strategic Themes: • Safety, Reliability, and Value • Exceptional Customer Service

Objectives: • Safely providing reliable and innovative utility solutions • Providing competitive rates, while maintaining the financial


Core Values: • Deliver Reliable Services

Previous Board

Actions: N/A

Fiscal Note: N/A


N/A


Item: Annual Statement of Compliance with Investment Policy

Contact: Jeff McCauley

Explanation: In accordance with Section XIII, Reporting Requirements of Greenville Utilities' Investment Policy (copy attached), an annual written statement is submitted to the Board noting compliance. The signed statement is attached for review.

Strategic Plan


• Exceptional Customer Service • Safety, Reliability & Value • Shaping Our Future



Core Values: • Exceed Customers’ Expectations • Act with Integrity • Value Employees • Support the Community

Previous Board Actions:

N/A

Fiscal Note: N/A


No action required, informational only


Annual Statement of Compliance with Investment Policy

During the fiscal year beginning July 1, 2020 and ending June 30, 2021, Greenville Utilities

Commission was in compliance with all aspects of the Investment Policy.

1


INVESTMENT POLICY

I. POLICY

It is the policy of Greenville Utilities Commission to invest public funds in a manner

which will provide the highest return with the maximum security while meeting the daily cash

flow demands of Greenville Utilities Commission and conforming to all state and local statutes

governing the investment of public funds.

II. SCOPE

These investment policies apply to all cash-related assets included within the scope of the

Commission’s audited financial statements and held directly by the Commission.

Funds of the Commission will be invested in compliance with the provision of North

Carolina General Statutes 159-30.

Deposits into trustee held funds including proceeds from debt financings and investments

into the Other Post Employment Benefits Trust Fund (OPEB) are excluded from the scope of this

policy.

III. OBJECTIVES

The Commission’s investment objectives, in priority order are:

Safety: Safety of principal is the foremost objective of the investment program.

Investments of the Greenville Utilities Commission shall be undertaken in a manner that seeks to

ensure the preservation of capital in the total portfolio.

Liquidity: The Director of Financial Services shall assure that funds are constantly

available to meet immediate payment requirements including payroll, accounts payable and debt

service.

Yield: The investment portfolio shall be designed with the objective of regularly

exceeding the average return on 90 day U.S. Treasury Bills.

*The 90 day T bill is considered a benchmark for risk-free investment transactions and therefore

represents a minimum standard for the portfolio’s rate of return.

2

IV. PRUDENCE

Investments shall be made with judgement and care under circumstances then prevailing

which persons of prudence, discretion and intelligence exercise, in the management of their own

affairs, not for speculation, considering safety of capital as well as the probable income to be

received.

The standard of prudence to be used by investment officials shall be the “prudent person”

described above, and shall be applied in the context of managing an overall portfolio. Investment

officers acting in accordance with written procedures and exercising due diligence shall be

relieved of personal responsibility for an individual security’s performance provided that

deviations from expectations are reported in a timely manner and appropriate action is taken to

control adverse developments.

*This is a realistic standard of knowledge and professional expertise to expect from a

reasonably well informed person who will be responsible for managing the Commission’s

investments.

V. RESPONSIBILITY

The authority for investing the funds of Greenville Utilities Commission lies with the

Chief Financial Officer and the Director of Financial Services. The primary authority is the Chief

Financial Officer. The Director of Financial Services is charged with the day-to-day operations

of the Commission’s investment portfolio, including the placement of purchase and sell orders

with dealers and financial institutions and the preparation of reports as required.

The Director of Financial Services is the Investment Officer for the Commission and

prepares cash flow forecasts and budgets as needed to assist in the decision making process for

the placement of the Commission’s funds to achieve the best yields while meeting the cash flow

requirements of the Commission.

VI. INVESTMENT DIVERSIFICATION

Diversification to avoid undue risk is achieved by varying the type of investment to

ensure liquidity, purchasing from sound and different financial institutions and brokers to reduce

the chance of loss, and varying maturity length to ensure availability of funds to meet cash needs.

The funds of the Commission may be invested in the instruments, as allowed by North

Carolina General Statutes 159-30, in the following percentages that are listed in table 1. If

applicable, the table also defines other restrictions to reduce risk in the Commission’s portfolio.

3

Table 1

INSTRUMENT MAXIMUM % OF

PORTFOLIO

Other Restrictions

U.S. TREASURY OBLIGATIONS

(BILLS, NOTES, BONDS)

100% None

U.S. GOVERNMENT AGENCY SECURITIES

ALLOWED BY STATE STATUTES

100% No more than 50% of

the Commission’s

total portfolio may be

invested in any one

agency

NORTH CAROLINA CAPITAL

MANAGEMENT TRUST

(LOCAL GOVERNMENT POOL)

100% None

MONEY MARKET ACCOUNTS 100% No more than 50% of

the Commission’s


invested in any one

financial institution

CERTIFICATES OF DEPOSIT

(BANKS AND SAVINGS AND LOAN

ASSOCIATIONS)

70% No more than 50% of

the Commission’s


invested in any one

financial institution

BANKER’S ACCEPTANCES (BA’S) 45% No more than 25% of

the Commission’s


invested in any one

entity

COMMERCIAL PAPER (CP) 50% No more than 25% of

the Commission’s


invested in any one

entity

STATE OF NORTH CAROLINA AND LOCAL

GOVERNMENT

SECURITIES WITH AAA RATING OR BETTER

20% None

4

With respect to those instruments that are allowed under the state statutes the following

have been omitted from this list and will not be purchased unless this investment policy is

amended to include those instruments. They are:

Repurchase agreements

Commingled investment pool established by G.S. 160-A-464

Participating shares in a mutual fund for local government

Evidences of ownership of future interest and principal payments of direct

obligations of the U.S. government

Relative safety and liquidity of each investment type determine the appropriate

percentage of the portfolio. Investments are arranged approximately by level of risk, with the

safest investments first. State and local government securities with a AAA rating are low risk but

also low interest.

VII. DIVERSIFICATION BY MATURITY

Recognizing the Commission’s need for funds is not constant, the Director of Financial

Services shall schedule investments in coordination with all funds such that there is as little idle

cash as practical. Investments shall be limited to maturities not exceeding five years. Maturities

should be selected in consideration of the Commission’s cash flow requirements.

Investments in Treasuries, Agencies and Instrumentalities may be purchased with

maturities exceeding 3 years. All others (with maturities greater than 3 years) are prohibited

without the expressed approval of the Commission Board.

Length of Maturity is calculated to be the number of days from the date of the purchase

of the investment to the maturity date of the investment.

VIII. COMPETITIVE SELECTION OF INVESTMENT INSTRUMENTS

Before the Commission invests any surplus funds in secondary market investments,

competitive bids shall be obtained. Records will be kept of the bids offered, the bids accepted,

and a brief explanation of the decision made.

5

IX. QUALIFIED INSTITUTIONS

The Commission shall maintain a listing of all authorized dealers and financial

institutions which are approved for investment purposes. Written procedures and criteria for

selection of financial institutions will be established by the Director of Financial Services. Any

firm is eligible to apply to provide investment services to the Commission and will be added to

the list if the selection criteria are met. Additions or deletions to the list will be made by the

Director of Financial Services. Firms performing investment services for the Commission shall

provide their most recent financial statements upon request.

X. INVESTMENT POOLS / MUTUAL FUNDS

A thorough investigation of the pool/fund is required prior to investing, and on a

continual basis. The following information should be available to the Investment Officer.

A description of eligible investment securities, and a written statement of investment

policy and objectives.

A description of interest calculations and how it is distributed, and how gains and

losses are treated.

A description of how the securities are safeguarded (including the settlement

processes), and how often the securities are priced and the program audited.

A description of who may invest in the program, how often, what size deposit and

withdrawal are allowed.

A fee schedule, and when and how is it assessed.

Is the pool/fund eligible for bond proceeds and/or will it accept such proceeds?

XI. SAFEKEEPING AND COLLATERALIZATION

Investment securities purchased by the Commission shall be delivered by either book

entry or physical delivery, and held in third party safekeeping by a bank designated as primary

agent. The trust department of the bank designated as primary agent may be considered to be a

third party for the purposes of safekeeping of securities purchased from that bank. The purchase

and sale of all securities will be on a payment versus delivery basis. The primary agent shall

issue a safekeeping receipt to the Investment Officer listing the specific instrument, rate,

maturity, and other pertinent information.

Deposit-type securities (i.e. certificates of deposit, money market accounts, and checking

accounts) shall be 100% collateralized as required by North Carolina General Statutes.

6

XII. ACCOUNTING METHOD

Investments will be recorded at cost. Realized gains or losses from investments will be

credited or charged to interest income at the time of maturity or sale. For instruments purchased

at a price greater than par or less than par and not sold, the purchase price premium or discount

will be accounted for in accordance with generally accepted accounting principles (GAAP).

Investments will be reported annually at market value.

XIII. REPORTING REQUIREMENTS

The Chief Financial Officer and/or the Director of Financial Services shall submit an

Annual Statement of Investment Policy to the Commission, noting compliance with Commission

policies. This statement shall be filed by no later than August 31 of each year.

The General Manager\CEO and appropriate Finance Department staff will review the

Investment Policy with the Finance/Audit Committee annually by no later than October 31 of

each year.

The Chief Financial Officer and/or the Director of Financial Services shall provide the

Commission with a monthly investment report, which will provide, at a minimum, the following

information.

CUSIP Number

Issuer or Broker/Dealer (Financial Institution)

Type of Investment

Effective Yield

Purchase Date

Maturity Date

Cost

Par Value

Where Held (Safekeeping)

The monthly investment report shall include all investments held in the Commission’s

portfolio as of the end of the month, and shall be issued with the monthly financial report.

Market values shall be reported semi-annually.

Any investment that does not meet policy guidelines due to Board adopted changes will

be temporarily exempted for a period not to exceed six months. Investments must come in

conformance with the policy within six months of the policy’s adoption or the Board must be

presented with a plan through which investments will come into conformance.

7

If a violation does occur, the Chief Financial Officer and/or the Director of Financial

Services shall report such violation in a timely manner to the General Manager\CEO along with

a plan to address the violation. The violation and plan will then be reported to the Board.

XIV. INTERNAL CONTROLS

The Director of Financial Services shall maintain a system of written internal controls,

which shall be reviewed by the independent auditor. The controls shall be designed to prevent

loss of public funds due to fraud, error, misrepresentation or imprudent actions.

XV. ETHICS AND CONFLICTS OF INTEREST

Officers and employees involved in the investment process shall refrain from personal

business activity that could conflict with proper execution of the investment program, or which

could impair their ability to make impartial investment decisions. Employees and investment

officials shall disclose to the General Manager\CEO any material financial interests in financial

institutions that conduct business within their jurisdiction, and they shall further disclose any

large personal financial/investment positions that could be related to the performance of the

Commission. This disclosure need not include normal banking or brokerage relationships that

are at normal market rates and conditions available to the general public.

XVI. POLICY REVIEW AND ADOPTION

This investment policy may be reviewed by the Board of Commissioners of Greenville

Utilities Commission at their pleasure and amended and adopted at any time.

Last Revised: November 16, 2017

8

GLOSSARY

AGENCIES: Federal agency securities and/or Government-sponsored enterprises.

ASKED: The price at which securities are offered.

BANKERS’ ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust

company. The accepting institution guarantees payment of the bill, as well as the issuer.

BID: The price offered by a buyer of securities. (When you are selling securities, you ask for a

bid.) See Offer.

BROKER: A broker brings buyers and sellers together for a commission.

CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a

certificate. Large-denomination CD’s are typically negotiable.

COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to

secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits

of public monies.

COUPON: (a) The annual rate of interest that a bond’s issuer promises to pay the bondholder on

the bond’s face value. (b) A certificate attached to a bond evidencing interest due on a

payment date.

DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and

selling for his own account.

DELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery

versus payment and delivery versus receipt. Delivery versus payment is delivery of

securities with an exchange of money for the securities. Delivery versus receipt is

delivery of securities with an exchange of a signed receipt for the securities.

DISCOUNT: The difference between the cost price of a security and its maturity when quoted at

lower than face value. A security selling below original offering price shortly after sale

also is considered to be at a discount.

DISCOUNT SECURITIES: Non-interest bearing money market instruments that are issued at

a discount and redeemed at maturity for full face value, e.g. U.S. Treasury Bills.

DIVERSIFICATION: Dividing investment funds among a variety of securities offering

independent returns.

FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit

to various classes of institutions and individuals, e.g., S&L’s, small business firms,

students, farmers, farm cooperatives, and exporters.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that

insures bank deposits, currently up to $250,000 per deposit.

FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is

currently pegged by the Federal Reserve through open-market operations.

FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks

(currently 12 regional banks) which lend funds and provide correspondent banking

9

services to member commercial banks, thrift institutions, credit unions and insurance

companies. The mission of the FHLBs is to liquefy the housing related assets of its

members who must purchase stock in their district Bank.

FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA): FNMA, like GNMA was

chartered under the Federal National Mortgage Association Act in 1938. FNMA is a

federal corporation working under the auspices of the Department of Housing and Urban

Development (HUD). It is the largest single provider of residential mortgage funds in the

United States. Fannie Mae, as the corporation is called, is a private stockholder-owned

corporation. The corporation’s purchases include a variety of adjustable mortgages and

second loans, in addition to fixed-rate mortgages. FNMA’s securities are also highly

liquid and are widely accepted. FNMA assumes and guarantees that all security holders

will receive timely payment of principal and interest.

FEDERAL OPEN MARKET COMMITTEE (FOMC): Consists of seven members of the

Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The

President of the New York Federal Reserve Bank is a permanent member, while the other

Presidents serve on a rotating basis. The Committee periodically meets to set Federal

Reserve guidelines regarding purchases and sales of Government Securities in the open

market as a means of influencing the volume of bank credit and money.

FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress

and consisting of a seven member Board of Governors in Washington, D.C., 12 regional

banks and about 5700 commercial banks that are members of the system.

GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by

mortgage bankers, commercial banks, savings and loan associations, and other

institutions. Security holder is protected by full faith and credit of the U.S. Government.

Ginnie Mae securities are back by the FHA, VA or FmHA mortgages. The term “pass-

throughs” is often used to describe Ginnie Maes.

LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a

substantial loss of value. In the money market, a security is said to be liquid if the spread

between bid and asked prices is narrow and reasonable size can be done at those quotes.

MARKET VALUE: The price at which a security is trading and could presumably be purchased

or sold.

MATURITY: The date upon which the principal or stated value of an investment becomes due

and payable.

MONEY MARKET: The market in which short-term debt instruments (bills, commercial

paper, bankers’ acceptances, etc.) are issued and traded.

OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for

an offer.) See Asked and Bid.

OPEN MARKET OPERATIONS: Purchases and sales of government and certain other

securities in the open market by the New York Federal Reserve Bank as directed by the

FOMC in order to influence the volume of money and credit in the economy. Purchases

inject reserves into the bank system and stimulate growth of money and credit; sales have

10

the opposite effect. Open market operations are the Federal Reserve’s most important and

most flexible monetary policy tool.

PORTFOLIO: Collection of securities held by an investor.

PRIMARY DEALER: A group of government securities dealers who submit daily reports of

market activity and positions and monthly financial statements to the Federal Reserve

Bank of New York and are subject to its informal oversight. Primary dealers include

Securities and Exchange Commission (SEC)-registered securities broker-dealers, banks,

and a few unregulated firms.

RATE OF RETURN: The yield obtainable on a security based on its purchase price or its

current market price. This may be the amortized yield to maturity on a bond or the

current income return.

SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and

valuables of all types and descriptions are held in the bank’s vaults for protection.

SECONDARY MARKET: A market made for the purchase and sale of outstanding issues

following the initial distribution.

SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect

investors in securities transactions by administering securities legislation.

SEC RULE 15C3-1: See Uniform Net Capital Rule.

TREASURY BILLS: A non-interest bearing discount security issued by the U.S. Treasury to

finance the national debt. Most bills are issued to mature in three months, six months, or

one year.

TREASURY BONDS: Long-term coupon-bearing U.S. Treasury securities issued as direct

obligations of the U.S. Government and having initial maturities of more than 10 years.

TREASURY NOTES: Medium-term coupon-bearing U.S. Treasury securities issued as direct

obligations of the U.S. Government and having initial maturities from two to ten years.

UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that

member firms as well as nonmember broker-dealers in securities maintain a maximum

ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net

capital ratio. Indebtedness covers all money owed to a firm, including margin loans and

commitments to purchase securities, one reason new public issues are spread among

members of underwriting syndicates. Liquid capital includes cash and assets easily

converted into cash.

YIELD: The rate of annual income return on an investment, expressed as a percentage. (a)

INCOME YIELD is obtained by dividing the current dollar income by the current

market price for the security. (b) NET YIELD or YIELD TO MATURITY is the

current income yield minus any premium above par or plus any discount from par in

purchase price, with the adjustment spread over the period from the date of purchase to

the date of maturity of the bond.

Item: General Manager’s Report

Contact: Tony Cannon

Explanation: 1. Informational Reading Bids, Statistical Data, Sewer Spill Tracking Report, Load Management Report, and PGA Report are attached.

a. Semi-Annual Report on Disposal of Surplus Property b. Employee Computer Purchase Program Participant Report

The Management Team will be available at the meeting to answer any questions regarding work activities. 2. Key Performance Indicators (KPIs) Attached is a list of GUC’s Tier 1 corporate Key Performance Indicators (KPIs).

3. Commendations 4. Other

Strategic Plan


• Shaping Our Future • Safety, Reliability & Value • Exceptional Customer Service

Objectives: • Embracing change to ensure organizational alignment and

efficiency • Developing and enhancing strategic partnerships • Exceeding customer expectations

Core Values: • Value employees • Encourage innovation/lifelong learning • Appreciate diversity • Support the community


Previous Board

Actions: N/A

Fiscal Note: N/A


N/A


TABULATION OF BIDS RECEIVED FOR

ALUMINUM SULFATE - 50%

MAY 26. 2021 @ 3:00 PM

G20 Technologies LLC

C&S Chemicals

Chemtrade Chemicals US, LLC

1-2days2-3days2-3days

$334.35

397.00

397.00

$357,754.50*

424,790.00

424,790.00

*lndicates recommended award based on the lowest responsible, responsive bid

Recommended for AwardJuli

David Springer,

€, a-Randy Em Di

Jeff M u

dent Water Resources Date

(o - ,->ot\

b.2-?-"'{Water Quality Manager

of Water Resourcesc/r/"/DateltlilDhte/

6/Lhl

Date

Date

Q/t a

cn -Ll

of Water Resources

,ch ncial Officer

CChris Padgett, istant General Manager/CAo Date

6"Approved for AwardAnthony C , General Manager/CEO Date



SODIUM HYDROXIDE - 50%

MAY 26 2021 @ 3:00 PM

DELIVERY TIMEVENDORS

Brenntag Southeast, lnc.

Urivar Solutions USA lnc.

Oltron Solutions LLC

JCI Jones Chemicals

2-3days2-3days3-4days2-3days

UNIT PRICEPER TON

$391.00

468.00

524.00

575.00

$ TOTAL

$193,154.00.

231,192.00

258,956.00

284,050.00


Recommended for AwardJu

David Springer, rector of Water Resources

(, ->-r">\Date

@>fDate

b J L/

&/zJ

u ntendent Water Resources

Quality Manager

,fr,0 J

Randy Emory, D of Water Resources

Jeff McCa F al

General Manager/CAO Date

Date

U/t/at

c, -1- LlDate

Approved for AwardAnthony C n, General Manager/CEO



SODIUM HYPOCHLORITE - 12.5%

MAY 26. 2021 @ 3:00 PM

WaterGuard, lnc.

Oltron Solutions LLC

Brenntag Southeast lnc.

JCI Jones Chemicals

3 days

3-4days2-3days2-3days

$0.690

0.750

0.827

0.980

$172,500.00*

187,500.00

206,750.00

245,000.00


Recommended for AwardJuli dent Water Resources Date

ead, Water Quality Manager

.3^-.^Savid Sprinfer, Assrttant Dfector of Water Resources

Randy Emory Water Resources

Ie-a-ao>\

kb/qDate. r

fib,,

Date

Datertq/zl

Jeff W ief Financial Officer

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L-7-U

Chris nfsi6/a nt C ene ra t trrt a n -a ger/CAO Date

Approved for AwardAnthony C. n, General Manager/CEO Date


TABULATION OF BIDS RECEIVED

FOR TUBULAR STEEL STRUCTURES

MAY 26, 2021 @ 4:00 PM

DELIVERY TOTAL VENDORS TIME(WKS)

Wesco Distribution 18-20 $109,362.50*

Meyer Utilities Structures 20 116,409.00

Rohn Products LLC 12 127,000.00

MD Henry Co. 20-22 158,136.00

MVA Power Inc. 18-20 160,295.60

Summit Utility Structures 01 /20/2022 165,166.00

Sabre Industries Inc. 18-20 181 ,441 .00

Valmont 14-16 70,830.00 (1)

* Indicates recommended award based on the lowest responsible, responsive bid.

(1) Indicates that the vendor did not meet minimum specifications.

Recommended for Award: lP/,1/2, Date

-t#Jz.1 ~/J(/--it Date

Ke Wade, Assistant Director of Electric

~w,,---~~:--=b6~~~~~~--t-~J

v/ Jv/J./ Date

Approved for Award: a nnon, General Manager/CEO Date


TABULATION OF BIDS RECEIVED

FOR ONE (1) .WHEEL DRIVE TRENCHING MACHINE

MAY 27.2021 @.3:00 PM

VENDORSDELIVERY

TIME (WKS)TOTAL

Vermeer All Roads 12-16 $141.062.00.

Ditch Witch of N.C. 8-12 142.261.93

* lndicates recommended award based on the lowest responsible, responsive bid.

Recommended for Award:

Approved for Award

Assistant Director of Electric

Worrell, Director of Electric Systems

/oDate

0Date

Jeff W. Chief Financial Officerd/!40/

Date

(o/ I /tl

f, -tu4)

(n /-r?ChrisPadgettlAssidbntGeneralManager/CAO Date

Anthony C n, General Manager/CEO Date

)

GREENVTLLE UTr LTTTES COtv'tMtSStON

TABULATTON 9F B|DS R,FCE|VEp

FOR DRESSER D. I. COUPLINGS

JUNE 8. 2021 @ 2:00 PM

* lndicates recommended award based on the lowest responsible, responsive bid

Water Works, lnc, 2-3 weeks $23,604.50.

TEC Utilities Supplv, lnc. '15-20 davs 25,077.20

Raleiqh Winwater Co. lnc. 18 davs 25,077.50

Fortiline Watenrvorks 4-5 weeks 28,030,00

Core & Main, LP 2 weeks 29,212,25

Recommended for Award

Approved for Award

Jongs, Director of Financial Services

A-lrs- 2"27Date

/t/a-tuzlDate

b -lt-ztDate

G-t+-L(

JeffW, l(li-c€{utey, Chief Financial ffticer

Chris Pa Administrative Officer

Anthony C annon, General Manager/CEO Date

Jun-21

This Month

Same Month Last Year % Change

Total To Date Past 12

Months

Total To Date Prior Past 12

Months % Change

ENVIRONMENTHigh Temperature, F 93 93Low Temperature, F 55 57Degree Days Heating 0 2.5 2,709.0 2,453.5Degree Days Cooling 352.5 340.0 2,012.0 2,037.0Rainfall, Inches 15.05 4.34 69.28 53.85River Level-Mean Sea Level

High, FT 12.7 19.4Low, FT 2.1 2.1Average FT 6.7 9.3

ELECTRICPeak Demand, KW 283,683 280,776Demand Reduction, KW 75,083 66,700KWH Purchased (x1000) 160,036 153,901 4.0% 1,785,176 1,756,862 1.6%KWH Billed (x1000) 154,074 142,671 8.0% 1,743,175 1,715,793 1.6%System Losses, Percent 2.35% 2.34%Average Cost/KWH $0.0702 $0.0717

NATURAL GASMCF Purchased 185,565 177,303 4.7% 3,458,362 3,307,338 4.6%MCF Billed 210,249 202,504 3.8% 3,373,597 3,245,539 3.9%System Losses, Percent 2.45% 1.87%Average Cost/MCF 5.12 4.47

WATERPeak Day, MG 14.371 14.186Average Day, MG 13.417 12.705Total Pumped, MG 402.501 381.141 5.6% 5,149.5 4,992.8 3.1%Total Billed, MG 334.100 306.700 8.9% 4,205.6 4,162.1 1.0%System Losses, Percent 18.33% 16.64%

WASTEWATERPeak Day, MG 22.43 15.57Average Day, MG 14.25 11.44Total Flow, MG 427.41 343.31 24.5% 4,398.45 3,601.36 22.1%

CUSTOMER ACCOUNTSActive Services E/W/G 133,322 131,052 1.7%Meters Repaired 511 349 46.4% 3,714 4,709 -21.1%

KW = KilowattsKWH = KilowatthoursMCF = Thousand Cubic FeetMG = Million Gallons

STATISTICAL DATAGREENVILLE UTILITIES COMMISSION

No. Date of Report Location

Volume

Gallons Surface Reportable Cause of Spill

Corrective

Action

Spill Date Upstream Downstream Water Name

Volume

Gallons Yes/No Req'd. Issued Req'd. Issued

1 08/03/20 6252 Hwy 11 North N/A N/A 900 No N/A N/A No No No No No Other (AV: 2" nipple to valve broke off due to corrosion.)

1f

2 11/12/20 11/16/20 100 Greenfield Blvd, Haw & Greenfield Blvd 7R-0018R-008

7R-0048R-009

16,142 Yes Parkers CreekTributary of Tar River

16,142 Yes Yes Yes Yes Yes Other: Rain- Severe Natural Conditions

1f

3 12/23/20 Ironwood J17-063 J17-064 480 No N/A N/A No No No No No Pipe Failure 1e4 02/16/21 02/17/21 Green Springs Park 10L-079 498 No N/A N/A No No No No No Other: Leaking

Manhole Joint1f

5 02/16/21 02/17/21 2203 E Tenth St 10K-013 187 No N/A N/A No No No No No Other: Leaking riser joint.

1f

6 03/04/21 03/08/21 E14th and Osceola St MH 10J-096 15 No N/A N/A No No No No No Debris 1c

7 06/05/21 06/10/21 4410 Surry Meadows Drive 9C-039 2,100 Yes Fork Swamp 2,100 Yes Yes Yes No No Grease 2a

8 06/17/21 701 Utility Way K18-009 K18-009 50 No N/A N/A No No No No No Debris 1c

9 06/22/21 06/25/21 2507 Jefferson Drive 10K-159 15 Yes Greenmill Run 15 Yes No No No No Grease 2a

Note: No spills in July, September, October, January, April, and May

Summary Total Number of Spills = 9 (3 Reportable;6 Non-Reportable)Total Spill Volume = 20387 gals or 0.0004% of Total Wastewater Flow

Cause Number of Each Volume (gals.)

a. Grease 2 2,115 b. Contractor Damage/Error 0 0c. Debris 2 65 d. Roots 0 0 e. Pipe Failure 1 480 f. Other 4 17,727

Corrective Action Code1. Permanent Repair2. Cleared Blockage & Priority Cleaning Scheduled

News Release Notice of Discharge If yes, where?Manholes

Spill Analysis

Water Resources Department Sewer Spill Tracking Report

July 2020 - June 2021


LOAD MANAGEMENT REPORT

June, 2021

The DEP monthly peak occurred on June 21st, 2021 for hour ending at 5:00 PM. Our load management

system was in full operation during this period with the following estimated reductions observed:

Estimated

Estimated Avoided

KW Load Demand

Reduction Costs

Direct Load Control:

Voltage Adjustment @ Stage 3 (4.6%) 12,700 $297,307

Air Conditioning Demand Reduction 4,300 $100,663

Water Heater Demand Reduction 11,900 $278,579

Heat Pump/Heat Strip Demand Reduction 0 $0

GUC Generator Reduction 21,612 $505,937

Battery Energy Storage System 758 $17,745

Interruptible Load Control:

MGS-CP & LGS-CP Customer Generators 17,783 $416,300

Estimated Other Industrial Customer Curtailments 6,030 $141,162

Total Load Control: 75,083 $1,757,693

NCEMPA Shifted Peak Credit:

Power Agency Policy Credit for

Contribution to Shifted Peak

Total Load Reduction and Avoided Costs: 75,083 $1,757,693

Additional Notes and Comments:

1) Duke Energy Progress (DEP) System Peak: 11,775 MW

2) GUC Coincident Peak (Less Winterville Demand): 283,683 KW

3) Local Temperature at Coincident Peak, per PGV: 91 Degrees F

4) Local "Feels Like" Temperature at Coincident Peak, per PGV: 91 Degrees F

5) Applicable NCEMPA Demand Rate Charge: $23.41 Per KW

PGA Report July 2021

Billing Month PGA ($/CCF) Residential ($/CCF) Jul-21 $0.5969 $0.3275 $0.9244

$0.8399

$0.6751 $0.6219

$0.6792 $0.6204

$0.6996

$0.5969

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

Feb-19 May-19 Aug-19 Nov-19 Feb-20 May-20 Aug-20 Nov-20 Feb-21 May-21

PGA

($ p

er C

CF)

Billing Month

Greenville UtilitiesPurchased Gas Adjustment History

Greenville Utilities Commission, NC Semi-Annual Report on Disposal of Surplus Property

Date range: 01/01/2021 – 6/30/2021

Greenville Utilities utilizes GovDeals, an internet-based government surplus sales auction to dispose of surplus property, as well as Greenville Auto Auction in Greenville, NC which sells vehicles and heavy equipment. In accordance with G.S. 160A-268 ( c ), the property disposed of between January 1, 2021 and June 30, 2021 is listed below. No action is required by the Board.

Description Sold Amount

Pilot Plant $25,000.00 2014 Yanmar Loader Attachment 2,900.00 Varian Simultaneous ICP-OES 255.00 1996 Onan Generator 8,550.00 Lot of Flashlights 63.00 Lot of Desk Chairs 37.00 Misc File Cabinets 30.00 Printer Cartridges/Office Supplies 200.00 Misc Hard Hats 350.00 (2) 2008 Ford Rangers 10,822.50 2008 International 9,065.00 2002 Ford F-150 3,422.50

2011 Ford Ranger 2,960.00

2000 International 22,570.00

2000 Ford Ranger 3,237.50

(3) 2009 Chevrolet Colorados 16,835.00

2001 Dodge Ram 6,567.50

2002 Dodge Van 3,977.50

TOTAL $116,842.50

Revenue generated by the sale of surplus property is listed below:

Calendar Year Revenue Received Year 2008 $85,972.26 Year 2009 $90,001.15 Year 2010 $83,292.38 Year 2011 $106,297.20 Year 2012 $113,381.46 Year 2013 $80,010.99 Year 2014 $10,366.05 Year 2015 $158,613.46 Year 2016 $34,641.35 Year 2017 $134,668.95 Year 2018 $85,698.85 Year 2019 $130,812.14 Year 2020 $91,736.50 Year 2021 $116,842.50

TOTAL $ 1,322,335.24

Employee Computer Purchase Program Participant Report

# of Loans for FY 2020-21: 6

Total Amount of Loans for FY 2020-21: $5,044.82 # of Outstanding Computer Loans for FY 2020-21: 6

Outstanding Balance for FY 2020-21: $2,500.28 Total # of Loans To Date (since program started in

2001): 376

Total Amount of Loans to Date (since program started in 2001): $453,676.73

0

5

10

15

20

FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2021-21

# of Loans - Last 5 years

# of Loans - Last 5 years

$0$2,000$4,000$6,000$8,000

$10,000$12,000$14,000$16,000

FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21

$ Amount of Loans - Last 5 years

$ Amount of Loans

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwja14Wur-PUAhWIcj4KHaj9D9sQjRwIBw&url=https://pixabay.com/en/photos/laptop/&psig=AFQjCNGAPooDT0Gag1Ncsw7YV-rwz3nnNw&ust=1498836479270042

• Hours Worked Without a Lost Workday Injury

• Restricted Workday Injuries Per 200,000 Hours Worked

• Capital Spending Ratio

• Degree of Asset Depreciation

Tier 1: Corporate Key Performance Indicators (KPI)

• Customer Satisfaction

• Billing Process Accuracy

• Installation of New Services

• Duration of Electric Interruptions (CAIDI)

• Duration of Electric Interruptions (SAIDI)

• Frequency of Interruptions in Service – Electric (SAIFI)

• Response Time to Unplanned Electric Outages

• Response Time to Cut Gas Lines/Leaks

• Response Time to Water Leaks/Breaks

• Typical Monthly Bill Comparisons

• Overtime Costs

• Bond Rating

• Days Operating Cash On Hand

• Debt Service Coverage

• Fund Balance (available for appropriation)

• Net Margin

• Return on Assets

• Return on Equity

• Connections Per Employee

• Operating Cost Per Customer

• System Losses – Electric

• System Losses – Gas

• System Losses – Water

• Disruption of Service – Water

• Preventable Vehicle Accident Rate

CUSTOM

ERFI

NANC

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INTE

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BU

SINE

SS

PROC

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EMPL

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S &

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CITY

COMPLIMENT RECORD

Date: 6/16/21

Received By: Shirley G. Peele

Customer’s Name: Sherry Broussard

Remarks: Ms. Sherry Broussard complimented John Sheppard on Facebook for providing

excellent customer service while changing out her meter. She stated that he was efficient,

thorough in making sure all gas appliances were working, and a true customer representative of

Greenville Utilities and the Gas Department.

Employee’s Name: John Sheppard, Gas Service Worker Senior

COMPLIMENT RECORD

Date: 6/8/21

Received By: Coleen Sicley, Assistant Director of Customer Relations

Remarks: A customer called to commend the crew who responded to an outage in the Locksley

Woods area. The caller’s father is on hospice care that lives there. The outage did not occur in

his building; however, she was impressed at how quickly the power was restored. She said the

crew was very polite and kind.

Employees’ Name: Timmy Pollard, Troubleshooter Crew Leader, and Jeffrey Rouse, Underground Lineworker Third Class

GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 1991

CHAPTER 861 SENATE BILL 1069

AN ACT TO AMEND AND RESTATE THE CHARTER OF THE GREENVILLE

UTILITIES COMMISSION OF THE CITY OF GREENVILLE. The General Assembly of North Carolina enacts:

Section 1. For the proper management of the public utilities of the City of Greenville, both within the corporate limits of the City and outside the said corporate limits, a commission to be designated and known as the "Greenville Utilities Commission", is hereby created and established.

Sec. 2. The Greenville Utilities Commission shall consist of eight members, six of whom shall be bona fide residents of the City of whom one shall at all times be the City Manager of Greenville, and two of whom shall be bona fide residents of Pitt County but residing outside the city limits of Greenville, and all of whom shall be customers of the Greenville Utilities Commission. Each Greenville Utilities Commissioner shall hold office for an initial term of three years and, except as set forth herein, will be automatically reappointed to a single additional term of three years, with each term of three years expiring June 30 at the end of the designated term or until reappointed or replaced by the City Council. The first appointees shall hold their offices as follows: the Greenville City Council shall appoint an individual to serve until June 30, 1995; John W. Hughes, Sr. is hereby appointed a Greenville Utilities Commissioner to serve until June 30, 1995, and shall not be eligible for a second term; Bernard E. Kane is hereby appointed a Greenville Utilities Commissioner to serve until June 30, 1995; R. Richard Miller is hereby appointed a Greenville Utilities Commissioner to serve until June 30, 1994, and shall not be eligible for a second term; and the Greenville City Council shall appoint an individual to serve until June 30, 1993; all of whom are bona fide residents of the City. William G. Blount is hereby appointed a Greenville Utilities Commissioner to serve until June 30, 1993, and shall not be eligible for a second term; and the Pitt County Board of Commissioners shall nominate an individual under the procedure established in Section 3 of this act, to be appointed by the Greenville City Council to serve until June 30, 1994; both of whom are Greenville Utilities Commission customers and bona fide residents of Pitt County residing outside the Greenville city limits.

Sec. 3. The Greenville Utilities Commissioners otherwise than as herein provided shall be appointed by the City Council at their regularly monthly meeting in June of each year. It is the intention of this charter that the City Council shall appoint Greenville Utilities Commission members who have utilities expertise. Representation should include some members with financial, engineering, environmental, technical, or

S.L. 1991-861 Senate Bill 1069

development backgrounds. The two members of the Greenville Utilities Commission residing outside the city limits shall be nominated by the Pitt County Board of Commissioners and appointed by the City Council. The City Council has the right to reject any nominee(s) from the Pitt County Board of Commissioners and to request additional nominees. If the Pitt County Board of Commissioners fails to recommend a nominee to the City Council within 60 days of the original date requested by the City Council, then the City Council may appoint any individual meeting the residency requirement. No person shall be eligible for appointment to the Greenville Utilities Commission who is an officer or employee of the City or Pitt County except that the City Manager of the City of Greenville shall at all times be a full member of the Greenville Utilities Commission. In the event a Greenville Utilities Commissioner resigns, dies, or otherwise becomes incapable of performing his or her duties, the City Council shall appoint, according to the same process described herein for regular appointments, a Greenville Utilities Commissioner to fill the unexpired term at any regular or special meeting of the City Council. Any Greenville Utilities Commissioner filling an unexpired term shall be deemed to have filled said term for the full three-year term. Except as otherwise permitted herein, no Greenville Utilities Commissioner shall serve more than two three-year terms. Greenville Utilities Commissioners filling the first three-year term will automatically fill a second three-year term unless the City Council initiates the replacement process.

Sec. 4. The Greenville Utilities Commissioners shall organize by electing one of their members Chair, whose term of office as Chair shall be for one year unless the Chair's term on the Greenville Utilities Commission shall expire earlier, in which event his or her term as Chair shall expire with the Chair's term on the Greenville Utilities Commission. The Chair shall not be entitled to vote on any proposition before the Greenville Utilities Commission except in case of a tie vote and only for the purpose of breaking the tie. The members of the Greenville Utilities Commission are authorized to fix their own salaries provided, however, that said salaries shall not exceed one hundred fifty dollars ($150.00) per month for the members and two hundred fifty dollars ($250.00) per month for the Chair provided, however, the City Council may, at its own discretion, increase these caps from time to time as is appropriate to reflect inflation, and provided, however, the City Manager shall receive no pay as a member of the Greenville Utilities Commission other than his or her salary as City Manager. The Greenville Utilities Commission shall meet at least once each month at a designated time and place unless the Chair designates some other meeting time and so notifies the other members of the Greenville Utilities Commission. The Greenville Utilities Commission and the Greenville City Council shall meet at least once each year to discuss mutual interests of the City of Greenville and the Greenville Utilities Commission. Minutes shall be kept for all regular meetings of the Greenville Utilities Commission.

Sec. 5. The Greenville Utilities Commission shall have entire supervision and control of the management, operation, maintenance, improvement, and extension of the public utilities of the City, which public utilities shall include electric, natural gas, water, and sewer services, and shall fix uniform rates for all services rendered;

Senate Bill 1069 S.L. 1991-861 Page 3

provided, however, that any person affected by said rates may appeal from the decision of the Greenville Utilities Commission as to rates to the City Council. With approval by the City Council, the Greenville Utilities Commission may undertake any additional public enterprise service which may lawfully be operated by a municipality.

Sec. 6. The Greenville Utilities Commission shall employ a competent and qualified General Manager whose duties shall be to supervise and manage the said public utilities, subject to the approval of the Greenville Utilities Commission. The General Manager, under the direction of and subject to the approval of the Greenville Utilities Commission, shall cause the said utilities to be orderly and properly conducted; the General Manager shall provide for the operation, maintenance, and improvement of utilities; the General Manager shall provide for the extension of all utilities, except sewer extensions made beyond the area regulated by the City of Greenville are subject to the approval of the City Council, and shall furnish, on application, proper connections and service to all citizens and inhabitants who make proper application for the same, and shall in all respects provide adequate service for the said utilities to the customers thereof; the General Manager shall attend to all complaints as to defective service and shall cause the same to be remedied, and otherwise manage and control said utilities for the best interests of the City of Greenville and the customers receiving service, and shall provide for the prompt collection of all rentals and charges for service to customers and shall promptly and faithfully cause said rentals and charges to be collected and received, all under such rules and regulations as the Greenville Utilities Commission shall, from time to time, adopt and in accordance with the ordinances of the City of Greenville in such case made and provided.

Sec. 7. All monies accruing from the charges or rentals of said utilities shall be deposited into the appropriate enterprise fund of the Greenville Utilities Commission and the Greenville Utilities Commission's Director of Finance shall keep an account of the same. The Greenville Utilities Commission shall at the end of each month make a report to the City Council of its receipts and disbursements; the Greenville Utilities Commission shall pay out of its receipts the cost and expense incurred in managing, operating, improving, maintaining, extending, and planning for future improvements and expansions of said utilities; provided, however, that should the funds arising from the charges and rentals of said utilities be insufficient at any time to pay the necessary expenses for managing, operating, improving, and extending said utilities, then and in that event only, the City Council of the City of Greenville shall provide and pay into the appropriate enterprise fund of the Greenville Utilities Commission a sum sufficient, when added to the funds that have accrued from the rents and charges, to pay the costs and expenses of managing, operating, improving, maintaining, extending, and planning for future improvements and expansions of said utilities; the Greenville Utilities Commission shall pay the principal on all such funds provided by the City Council with interest thereon; provided, further, that the Greenville Utilities Commission shall annually transfer to the City, unless reduced by the City Council, an amount equal to six percent (6%) of the difference between the electric and natural gas system's net fixed assets and total bonded indebtedness plus annually transfer an amount equal to fifty percent (50%) of the Greenville Utilities Commission's retail cost of service for the City

S.L. 1991-861 Senate Bill 1069

of Greenville's public lighting. Public lighting is defined herein to mean City of Greenville street lights and City of Greenville Parks and Recreation Department recreational outdoor lighting. The preparation of a joint financial audit of the City of Greenville and the Greenville Utilities Commission operations by a single auditing firm is intended under the provisions of this charter and existing North Carolina statutes.

Sec. 8. In compliance with the time requirements of Chapter 159 of the General Statutes, the Greenville Utilities Commission shall prepare and submit to the City Council, for approval, a budget for the coming year showing its estimated revenue, expenses, capital expenditures, debt service, and turnover to the City of Greenville. In addition, the budget ordinance must identify construction projects of the Greenville Utilities Commission which include individual contracts in excess of one-half of one percent (½%) of the Greenville Utilities Commission's annual budget. City Council approval of the Greenville Utilities Commission's budget will constitute approval of projects so identified and the contracts contained therein. Contracts in excess of one-half of one percent (½%) of the Greenville Utilities Commission's annual budget not so identified and approved in the budget ordinance will require separate City Council approval.

Sec. 9. The Greenville Utilities Commission shall approve the employment and remuneration of all officers, agents, independent contractors, and employees necessary and requisite to manage, operate, maintain, improve, and extend the service of said utilities. It is, however, the intention of this Charter that the Greenville Utilities Commission and the City of Greenville will implement and maintain mutual pay plans, personnel policies, and benefits for their respective employees. The Greenville Utilities Commission may require bond in such sum as it may deem necessary, which shall be approved by the City Council, of all officers, agents, and employees having authority to receive money for the Greenville Utilities Commission. The Greenville Utilities Commission shall have the authority to name and designate a person in its employ as secretary of the Greenville Utilities Commission.

Sec. 10. The Greenville Utilities Commission shall have authority at all times to discharge and remove any officer, agent, independent contractor, or employee of the Greenville Utilities Commission.

Sec. 11. All laws and clauses of laws in conflict with this act are hereby repealed, expressly including Chapter 146 of the Public-Local Laws of 1941, entitled "AN ACT TO PROVIDE A PERMANENT UTILITIES COMMISSION FOR THE CITY OF GREENVILLE, IN PITT COUNTY, AND TO REPEAL CHAPTER TWO HUNDRED AND ELEVEN OF THE PRIVATE LAWS OF ONE THOUSAND NINE HUNDRED AND FIVE, AND AMENDMENTS THERETO, RELATING TO THE WATER AND LIGHT COMMISSION OF THE CITY OF GREENVILLE.", except that this act does not revive any act repealed by that act.

The purpose of this act is to revise the charter of the Greenville Utilities Commission and to consolidate herein certain acts concerning the Greenville Utilities Commission. It is intended to continue without interruption those provisions of prior acts which are consolidated into this act so that all rights and liabilities that have accrued are preserved and may be enforced. This act shall not be deemed to repeal,

Senate Bill 1069 S.L. 1991-861 Page 5

modify, or in any manner affect any act validating, confirming, approving, or legalizing official proceedings, actions, contracts, or obligations of any kind.

No provision of this act is intended nor shall be construed to affect in any way any rights or interest, whether public or private:

(1) Now vested or accrued in whole or in part, the validity of which might be sustained or preserved by reference to law to any provisions of law repealed by this act.

(2) Derived from or which might be sustained or preserved in reliance upon action heretofore taken pursuant to or within the scope of any provisions of law repealed by this act.

All existing ordinances of the City of Greenville and all existing rules and regulations of the Greenville Utilities Commission not inconsistent with provisions of this act shall continue in full force and effect until repealed, modified, or amended.

No action or proceeding of any nature, whether civil or criminal, judicial or administrative, or otherwise pending at the effective date of this act by or against the City of Greenville or the Greenville Utilities Commission shall be abated or otherwise affected by the adoption of this act. If any provisions of this act or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this act which can be given effect without the invalid provision or application, and to this end the provisions of this act are declared to be severable.

Sec. 12. This act is effective upon ratification. In the General Assembly read three times and ratified this the 7th day of July,

1992. James C. Gardner President of the Senate Daniel Blue, Jr. Speaker of the House of Representatives

1

BYLAWS OF THE GREENVILLE UTILITIES COMMISSION

These Bylaws are adopted by the Greenville Utilities Commission to implement its Charter and to establish basic rules of organization, process and procedure and to provide for the efficient and effective conduct of public business for the benefit of the ratepayers. To The Extent The Terms & Conditions Of These Bylaws Conflict With the Terms & Conditions of The Charter, The Charter Shall Govern.

I. Name: The name of the Commission shall be: The Greenville Utilities Commission.

II. Individual Responsibility: Commission members have responsibility over utilities’ affairs when acting as a body appropriately called to session. To request additional information concerning the functions of the Greenville Utilities Commission, Board members should contact the General Manager/CEO.

III. Board Membership

A. Number of Members: The Greenville Utilities Commission shall consist of eight (8)

members, all appointed by the Greenville City Council. Two of these appointees are nominated by Pitt County Board of Commissioners.

B. Commission Seats: Of the eight (8) members, six (6) members shall be bona fide residents of the City of whom one shall be the City Manager of Greenville, and two of whom shall be bona fide residents of Pitt County but residing outside the city limits of Greenville, who shall be customers of the Greenville Utilities Commission.

C. Vacancies on the Commission: In the event a Greenville Utilities Commissioner

resigns, dies, or otherwise becomes incapable of performing his or her duties, at any regular or special meeting of the City Council, the City Council shall appoint, according to the same process described herein for regular appointments, a Greenville Utilities Commissioner to fill the unexpired term.

D. New members to the Board are required to participate in orientation and training

sessions as scheduled by the General Manager/CEO. Orientation shall include such activities as:

1. Workshops for new Board members conducted by the American Public Power

Association.

2. Discussions and visits with the General Manager/CEO, General Counsel, and other members of the staff.

2

3. Provision of printed and audiovisual materials on Greenville Utilities Commission and copies of administrative policies and procedures.

IV. Organization

A. The Greenville Utilities Commission each year shall elect its officers on the first

regularly scheduled meeting of the Commission on or after July 1 at which a quorum is present. Meetings are scheduled for the third Thursday in each month at 12:00 noon.

B. The officers of the Commission shall be a Chair, a Chair-Elect and a Secretary, elected in that order for a term of one (1) year. The General Manager/CEO shall preside while a new Chair is being elected.

C. Vacancies in the office of Chair, Chair-Elect or Secretary occurring during the year

shall be filled by the Commission at its discretion.

V. Powers and Duties of the Board The Powers and Duties of the Board shall include but not be limited to the following: A. The Greenville Utilities Commission shall have entire supervision and control of the

management, operation, maintenance, improvement, and extension of the public utilities of the City, which public utilities shall include electric, natural gas, water, and sewer services, and shall fix uniform rates for all services rendered; provided, however, that any person affected by said rates may appeal from the decision of the Greenville Utilities Commission as to rates to the City Council. With approval by the City Council, the Greenville Utilities Commission may undertake any additional public enterprise service which may lawfully be operated by a municipality (Reference Charter Section 5).

B. The Board shall discharge its duties and responsibilities as required by its Charter or otherwise imposed by law.

C. The Board shall employ a General Manager/CEO whose duties shall be to supervise

and manage the operations of the Greenville Utilities Commission, subject to the approval of the Board of Commissioners of the Greenville Utilities Commission, as provided in Section 6 of the Charter.

D. The Board shall annually evaluate the performance of the General Manager/CEO as

its Chief Executive Officer (CEO).

E. Upon the recommendation of the General Manager/CEO, the board shall employ, an attorney to give counsel on matters of legal concern to the Greenville Utilities Commission. The attorney shall represent the Commission on most matters, except that the Commission may hire other expertise as warranted on a case by case basis. The General Manager/CEO shall annually review the performance and services of the General Counsel.

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F. The Board shall annually review its performance. An annual review may consist of a

written review and/or survey by Board members and/or a review with or by the General Manager/CEO.

VI. Duties of Officers

A. The Chair shall preside at Board meetings. The Chair, in consultation with the

Secretary and General Manager/CEO, shall review the draft agenda of regular and special meetings of the Board.

B. The Chair shall appoint committees and designate the chairs unless otherwise directed by majority vote of the Board in session.

C. The Chair, subject to the approval of the Commission, shall have the authority to

execute any official document for and on behalf of the Commission.

D. The Chair shall not be entitled to vote on any proposition before the Greenville Utilities Commission except in case of a tie vote and only for the purpose of breaking the tie.

E. The Chair shall be the official spokesperson for the Board and will make, either in

person or through the General Manager/CEO, every effort to communicate the Board’s decision to the community through the media and any other means available.

F. In the absence of the Chair, it shall be the duty of the Chair-Elect to preside at

meetings of the Board and assume authority of the Chair.

G. The Secretary shall record minutes of meetings and hearings and distribute minutes in advance for review and approval.

H. It shall be the responsibility of the Secretary to maintain official minutes and records

of Board proceedings and actions. Minutes may be examined by any interested citizen under the supervision of the Secretary or the Secretary’s designee. Consistent with the purpose of Closed Sessions, minutes of these meetings shall be separately maintained by the Secretary. Minutes of Closed Sessions may not be examined by interested citizens except as provided by law.

I. The Secretary shall be responsible for the proper maintenance of official documents

including but not limited to Board bylaws, Board policies, and Board decisions.

J. The Secretary shall discharge any other duties or responsibilities required by law or otherwise imposed upon the Secretary of the Board.

K. In the absence of the Secretary, it shall be the duty of the Chair-Elect to assume

duties of the Secretary.

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VII. Committees & Appointments

A. An Executive Committee composed of the Board Chair, Chair-Elect, Past-Chair

(when continuing to serve on the Board) and Secretary will work with the Greenville Utilities Commission staff on policy issues, represent Greenville Utilities Commission in joint discussions on potential growth and regionalization and provide for continuity of knowledge for the chair position.

B. On an annual basis, the Chair shall appoint two members to a Joint Pay & Benefits Committee to meet jointly with a City Council Joint Pay & Benefits Committee to make recommendations for employee benefits and compensation issues for the upcoming fiscal year. These two members should include at least one member (if available) that served the previous year.

C. On an annual basis, the Chair shall appoint 3–4 members to serve in conjunction

with the Board Chair, on a Finance/Audit Committee to provide “policymaker” input to staff and auditors on the enhancement or implementation of financial procedures or issues. The Chair shall designate a Chair and a Vice-Chair of the Committee.

D. On an annual basis, the Chair shall appoint 3–4 members to serve in conjunction

with the Board Chair on an Economic Development, Marketing and Public Relations Committee to provide policymaker input to staff and consultants in the development of criteria, guidelines, and strategies for the economic development of Pitt County and report to the Board of Commissioners as appropriate. The Chair shall designate a Chair and a Vice-Chair of the Committee.

E. On an annual basis, the Chair shall appoint 3-4 members to serve in conjunction with

the Board Chair on a Legal and Legislative Committee to provide policymaker input to staff on legal and legislative matters that may impact the operations and business of the Commission and report to the Board of Commissioners as appropriate. The Chair shall designate a Chair and a Vice-Chair of the Committee.

F. Ad Hoc Committees of the Board shall be appointed annually by the Chair, as

needed, and shall function until such time as their purpose has been accomplished. The Chair shall designate a Chair and a Vice-Chair of the Committee.

G. The Board shall appoint an Executive Secretary and Assistant Executive Secretary

from the staff. These positions are normally held by the Executive Assistant to the General Manager/CEO and Director of Financial Services and Accounting, respectively.

VIII. Methods of Operation

A. Board Meetings: The Board shall regularly meet on the third Thursday of each

month to consider its business. Notice of the meeting and its agenda shall be made available to the media as provided by law. Other meetings, including special sessions, emergency sessions or workshop sessions may be held as needed and must follow notification provisions as described by law.

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B. Agendas: Before actions by the Board are requested or recommended, the Board should be provided with documentation to assist members in reaching decisions consistent with established goals and policies. To request additional information, Board members shall contact the General Manager/CEO. The Agenda for regular monthly meetings shall be as follows:

1. Call to order and ascertain the presence of a quorum

2. Approval of the minutes for the previous month’s meetings

3. Any additions or deletions and acceptance of the (revised) agenda

4. Presentations of awards and recognition of outstanding achievement

5. Acceptance of the financial statement for the previous month

6. Award of Bids

7. Other items requiring action by the Board

8. Informational items

9. General Manager/CEO’s report – This portion of the meeting is set aside for the

General Manager/CEO’s reports on any item of information which he wishes to present to the Board.

10. Board Chair remarks

11. Board members’ remarks

12. Closed Session, if required

13. Notice of next regular or special meeting

14. Adjournment

C. Quorum: The Greenville Utilities Commission may only conduct business in a

regular, emergency or special meeting attended by a quorum of the Board. A quorum shall consist of five (5) Board members, who are either physically present or able to participate by telephone or video-conference or other electronic means.

D. Conduct of Meetings: Meetings shall be conducted in accordance with the Board’s Bylaws and otherwise by the most recent edition of Robert’s Rules of Order.

E. Voting: The Chair of the Board shall determine the vote of any motion by asking

each member to respond by voice vote or if necessary, a show of hands may be required.

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1. Each member of the Board, except the Chair, shall have one vote on any recommendation, motion, proposal, or any other action item coming before the Board.

2. Each member, other than the Chair, must vote unless excused by the remaining members. A member who wishes to be excused from voting shall so inform the Chair who shall take a deciding vote of the remaining members present. No member shall be excused from voting except on matters involving his/her own financial interest or official conduct. In other cases, a failure to vote by a member who is physically present or has withdrawn without being excused by a majority vote of the remaining members present, shall be recorded as an affirmative vote.

F. Closed Sessions: Closed Sessions may be called upon a motion made and adopted

at an open session for any of those permitted purposes described in Section 143-318 of the General Statutes of N.C., commonly known as the “Open Meetings Law”, as amended from time to time. The motion shall state the purpose of the Closed Session and must be approved by the vote of a majority of those members present.

G. Board Members’ Compensation and Reimbursement: Members of the Greenville Utilities Commission shall receive compensation for performance of official utility business at the rate of $200 per month. The Chair shall receive $350.00 per month. The City Council may, at its own discretion, increase these caps from time to time as is appropriate to reflect inflation. The City Manager shall receive no compensation as a member of the Greenville Utilities Commission.

H. Public Hearings: The Greenville Utilities Commission believes that from time to time

additional public opinion is necessary. This opinion is generally sought through the use of a public hearing. When such hearings are scheduled, the Greenville Utilities Commission will ensure that the date, time, and location are properly advertised well in advance of the hearing date. The Commission will receive comments and information at public hearings but not take any formal action during the public hearing. The Commission will take under advisement comments offered at the public hearing and normally consider these comments for future action.

I. Public Expression: Upon motion of any Commissioner, and approval by a majority of

the Board, any ratepayer may be allowed to address the Board within the time restrictions (and upon such other conditions) as may be set by the Chair.

IX. Change in Bylaws: These Bylaws may be amended from time to time. The procedure

for amendment is by giving notice of the proposed amendments at a regularly scheduled Board meeting. The amendments will be considered at the next regularly scheduled Board meeting and must be approved by the vote of a majority of the members.

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Adopted May 14, 1996 Revised June 11, 1996 Revised November 18, 1997

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Revised June 9, 1998 Revised October 11, 1999 Revised July 18, 2000 Revised October 16, 2007 Revised November 18, 2008 Revised September 15, 2011 Revised August 21, 2014 Revised March 19, 2015 Revised November 16, 2017

agenda · 2021. 7. 12. · agenda regular meeting – july 15, 2021 . 12:00 noon – board room ....

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